Context

Analysts predict that WTI, which is now significantly lower than Brent due to the high cost of shipping American oil to Europe, will average $81 per barrel in December 2026 and $73 in 2027.

What's next

On Sunday, Trump also unexpectedly announced that Ukraine and Russia had agreed to an energy truce. President of Ukraine Volodymyr Zelensky said that he was waiting for details of the agreement.

“Questions remain as to whether this truce will hold and how long it will last. Without clearer evidence of its sustainability, price cuts are likely to be limited,” he added.