Could Peace Talks End the War—And Cut Gas Prices?

Oil prices dipped this week as renewed diplomatic efforts raised hopes for a resolution to the war in Ukraine—and the potential easing of sanctions on Russian crude. Following a White House meeting with Ukrainian President Volodymyr Zelenskiy and European leaders, President Trump announced he had spoken with Russian President Vladimir Putin and was arranging a possible trilateral summit. The talks have fueled speculation that sanctions could be lifted, increasing global oil supply. Brent crude dropped to $65.75 a barrel, while West Texas Intermediate fell to $62.47. Energy analysts say Trump’s softened stance on secondary sanctions has reduced fears of global supply disruptions, contributing to the market shift.