[MARKET UPDATE]: Oil continues to see weakness amid more positive rhetoric regarding US/Ukraine and an agreement

The ongoing weakness in oil prices is likely linked to improving diplomatic relations between the US and Ukraine, which could signal reduced geopolitical tensions and concerns over supply disruptions.

Newsquawk StaffNewswiresPublished 6 Jan 2026, 19:20 UTCOn the live feed at 19:00 UTC — 4 more headlines followed before this page went public

Newsquawk headlinesUTC

19:07

French President Macron says US has clarified its role in Ukraine including frontline monitoring and confirms a US backstop

19:03

Fed Discount Rate Minutes: In December, FOMC approved 25bps cut in rate on discounts and advances made under primary credit programme

19:00

[MARKET UPDATE]: Oil continues to see weakness amid more positive rhetoric regarding US/Ukraine and an agreement

18:59

US special envoy Witkoff thinks they are largely finished on security guarantees and protocols; close to finishing off a robust prosperity agreement for Ukraine

18:54

A major investor in Core Scientific (CORZ) says the firm will lease 400 megawatts to new clients this year; deals would demonstrate durable demand for data centres and that AI in a in a boom, not a bubble, according to Business Insider

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Context

This shift in sentiment may be prompting traders to reassess their positions, suggesting a potential reallocation of risk in energy commodities. Keep an eye on whether this momentum translates into a sustained trend or if the underlying supply-demand dynamics can counteract it.

Energy · last 90 days

Recent headlines that moved markets

ENERGY/8 Sept · 19:50 UTC

Iran launched an attack against US Navy ships on Monday that the US military has yet to acknowledge, WSJ reports, citing US officials.

Brent crude, after we published+0.8%

Immediate upside seen in oil following these reports.

ENERGY/8 Sept · 05:23 UTC

Saudi Energy Minister says a number of energy facilities and utilities were hit; are temporarily halting some operations.

Brent Nov'26, after we published+1.0%

ENERGY/3 Sept · 08:03 UTC

Russian President Putin says that Russia and Ukraine should agree first; he notes that there is an opportunity to reach a peace agreement.

with Brent Nov, after we published−1.3%

ENERGY/1 Sept · 16:17 UTC

Initial reports of an American attack on Iran, reports i24's Stein.

- Brent (V6), after we published+1.2%

ENERGY/27 Aug · 17:46 UTC

The Trump administration has repeatedly told mediators it has no interest in going back to the terms of the MoU it reached with Iran in June, reports WSJ citing sources

Brent crude, after we published+1.4%

ENERGY/25 Aug · 19:26 UTC

A ceasefire between the US and Iran has been agreed upon, it includes free navigation in the Strait of Hormuz and will be announced in the coming days, reports Ria citing Pakistani and Iranian sources

Brent crude, after we published−2.4%

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