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OIL: Trump/Putin Call Set To See Peace Talks Start, Impacting Crude/TTF

OIL
Energy BulletsBulletPower BulletsCommodities

Trump/Putin call set to see Ukraine peace talks start imminently, impacting crude/TTF pricing.  

  • US President Trump confirmed that he talked to Russian President Putin yesterday, saying negotiations on the Russia-Ukraine conflict will begin imminently.
  • Trump then said he spoke to Ukrainian President Zelenskyy and hopes that the results of discussions between Ukraine and US Vice President JD Vance and Secretary of State Marc Rubio will be positive.
  • TTF has fallen ~5.5% this morning partially owing to progress towards a resolution to the conflict.
  • The Sum25-Win25 spread has fallen to 3EUR/MWh today, down from 5EUR/MWh yesterday.
  • Media reports last week suggested that European officials were considering the potential for restarting Russian pipeline gas flows to Europe as part of a negotiated end to the Russia/Ukraine conflict.
  • Meanwhile, Equinor commented that up to 35 Bcm of additional Russian gas could be seen in Europe following an end to the Russia/Ukraine conflict, which could support efforts to refill European gas storage ahead of winter.
  • Brent is down ~0.5% on the day. A peace agreement could see US sanctions on Russia’s energy trade eased, reducing supply-side risks. 
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Trump/Putin call set to see Ukraine peace talks start imminently, impacting crude/TTF pricing.  

  • US President Trump confirmed that he talked to Russian President Putin yesterday, saying negotiations on the Russia-Ukraine conflict will begin imminently.
  • Trump then said he spoke to Ukrainian President Zelenskyy and hopes that the results of discussions between Ukraine and US Vice President JD Vance and Secretary of State Marc Rubio will be positive.
  • TTF has fallen ~5.5% this morning partially owing to progress towards a resolution to the conflict.
  • The Sum25-Win25 spread has fallen to 3EUR/MWh today, down from 5EUR/MWh yesterday.
  • Media reports last week suggested that European officials were considering the potential for restarting Russian pipeline gas flows to Europe as part of a negotiated end to the Russia/Ukraine conflict.
  • Meanwhile, Equinor commented that up to 35 Bcm of additional Russian gas could be seen in Europe following an end to the Russia/Ukraine conflict, which could support efforts to refill European gas storage ahead of winter.
  • Brent is down ~0.5% on the day. A peace agreement could see US sanctions on Russia’s energy trade eased, reducing supply-side risks.