Oil prices steady as Russia-Ukraine talks show progress

Business Nov 26, 2025

Oil prices are holding near their lowest levels this month, thanks to some hopeful signs from peace talks between Russia and Ukraine.
WTI crude is steady around $58 a barrel, while Brent is just above $62.
President Trump said, "there are only a few remaining points of disagreement," so the market's watching closely.

What else is shaping oil prices?

Sanctions on Russian oil are still shaking things up—though China, India, and Turkey keep buying discounted Russian crude.
Plus, with OPEC pumping more oil and demand staying low, prices have dropped over 20% since June.
Looking ahead, the International Energy Agency expects a big supply surplus next year.
Meanwhile, US oil stockpiles fell by nearly 2 million barrels last week—a detail that could nudge prices again soon.