Oil retreats on Russia-Ukraine energy truce hopes and easing supply risks

Crude oil prices slipped below $90 per barrel on Monday amid hopes of improved supplies after US President Donald Trump said Russia and Ukraine had agreed to an immediate energy ceasefire. Optimism was further supported by reports of a potential easing in Russian diesel export restrictions following a US-brokered arrangement for fuel supplies. Meanwhile, Iran reached out to Saudi Arabia after Houthi attacks on the kingdom, keeping Middle East tensions in focus as Trump considered possible retaliatory action against the Houthis in Yemen. On MCX, October crude oil futures fell more than 1% to ₹8,758 per barrel. Investors will now monitor US inflation, retail sales and industrial production, alongside China?s trade data and developments in Middle East diplomacy for fresh direction.

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