Stocks climb as oil falls after Trump declares Russia-Ukraine energy ceasefire
Equity markets rose on Monday as crude prices slipped following Donald Trump's announcement of an "energy ceasefire" between Russia and Ukraine, despite ongoing Houthi attacks in Saudi Arabia.
On Monday, equity markets across Asia and Europe moved higher as crude prices fell over 1% after Donald Trump posted on Truth Social that a mutual "energy ceasefire" had been reached between Russia and Ukraine. The statement coincided with a wave of Houthi attacks on Saudi Arabia, including a deadly strike on Riyadh's international airport that left at least twelve dead, the worst assault on Saudi soil in more than a decade.
Ukrainian President Volodymyr Zelensky said Kyiv was surprised but would back the ceasefire, while Moscow has yet to acknowledge any deal. The oil price drop eased pressure on Asian indices, though chipmakers in South Korea and Taiwan pulled down Seoul and Taipei. Market commentator Stephen Innes observed that investors now discount geopolitical headlines unless they affect real oil supply or logistics. Traders also await US inflation and retail sales data that could influence the Federal Reserve's upcoming policy meeting, as earnings season begins with major banks slated to report.
Why it matters
The ceasefire claim shifts oil markets and signals potential diplomatic moves in the Russia-Ukraine war.
How this story developed
- Oct 11 Polish security forces launch operation after threat to prime minister and defence minister
- Oct 11 Authorities disclosed that the threat was treated as highly serious and held an emergency anti‑terror briefing.
- Oct 11 Police arrested a man in Lower Silesia suspected of being linked to a plot against Prime Minister Donald Tusk and Defence Minister Władysław Kosiniak‑Kamysz.
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