Overview
- Brent settled at $61.94 and WTI at $58.08 after a more than 2% rise Monday, then eased about 0.3% early Tuesday.
- U.S. EIA data showed crude stocks up 405,000 barrels to 424.82 million, gasoline up 2.9 million to 228.49 million, and distillates up 202,000 to 118.7 million.
- President Trump and President Zelenskiy reported progress on a 20‑point peace framework with Donbas unresolved, as Moscow’s claim of a drone strike on a presidential residence further clouded negotiations.
- Strikes on Naftogaz’s Kherson heat-and-power plant and Russia’s Syzran refinery underscored ongoing energy infrastructure risks tied to the war.
- Tensions tied to Yemen and U.S. enforcement on Venezuelan oil shipments supported prices, even as the IEA projects supply will exceed demand by about 3.8 million barrels per day in 2026.