BREAKING: Oil drops amid US - Russia media reports on Ukraine

3:35 PM 8 August 2025

According to media reports citing people familiar with the matter, the US and Russia are said to plan an Ukraine deal cementing Russian gains. Sources reported that halting the war in Ukraine would lock in Russia’s occupation of territory seized during its military invasion. US and Russian officials are working toward an agreement on territories for a planned summit meeting between Presidents Donald Trump and Vladimir Putin as early as next week. The US is working to get buy-in from Ukraine and its European allies on the deal, which is far from certain, according to sources. Oil drops almost -0.7% today and reacted with slight decline after the reports as the peace in Ukraine would open the door to easing sanctions on Russian oil.

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BREAKING: Oil drops amid US - Russia media reports on Ukraine

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