Trump, Zelensky Ukraine Talks End Without Peace Deal. What It Means for Oil and Energy Stocks.

Oil prices rose Monday after talks between the U.S. and Ukraine ended with no breakthrough. (Courtesy Devon Energy)

Key Points

• Oil prices and energy stocks increased after peace talks between the US and Ukraine regarding the Russia-Ukraine war stalled.
• West Texas Intermediate crude futures rose over 2.5% to about $58.20 a barrel; Brent crude gained 2.3% to $61.60.
• Shares of major oil companies saw gains, with Exxon Mobil up 1.6%, Chevron rising 1%, and ConocoPhillips up 1%.

Oil prices and energy stocks rose on Monday after talks between President Donald Trump and Ukrainian leader Volodymyr Zelensky failed to deliver major progress toward peace between Russia and Ukraine.

Trump said diplomatic efforts were “in final stages” to end the war that started when Russia invaded Ukraine in 2022, leading to widespread sanctions on Russian oil and constraining global crude supply.

But Trump also struck a negative tone when he said that, if talks were unsuccessful, “[the war is] going to go on for a long time.”

Energy traders may be focusing on that more negative peace narrative on Monday, bidding up prices as if in anticipation of continued constraints on global oil supply as a result of the conflict.

Continuous-contract futures for West Texas Intermediate crude rose more than 2.5% on Monday to around $58.20 a barrel, while the Brent benchmark gained 2.3% to $61.60.

Shares in oil companies were among the most buoyant in the S&P 500 early Monday, with Exxon Mobil stock up 1.6% and shares in Chevron rising 1%. ConocoPhillips Stock was up 1% while shares in Halliburton , the oilfield services group, rose 0.6%.