Stock markets rise and oil prices tumble after Trump claims energy ceasefire

Stock markets rose early on Monday, October 12, as crude oil prices fell following an announcement by United States President Donald Trump of an energy ceasefire between Russia and Ukraine. Euronews reported that both main crude oil contracts dropped by more than 1%. Euronews and Yahoo Finance both reported that the drop in oil prices offset a new wave of Houthi attacks targeting Saudi Arabia. [1][2][3]

Trump declared on Truth Social early on Sunday that an energy ceasefire in the war between Russia and Ukraine was effective immediately and that both parties had agreed to it. However, Euronews reported that the statement caused astonishment in Kyiv. Officials in Ukraine stated that Russian forces had struck multiple power plants across the country despite the declaration. [1]

As FTMQ News reported earlier, Ukrainian President Volodymyr Zelensky said Trump's ceasefire deal with Russian President Vladimir Putin was news to him. Zelensky accused Russia of violating the claimed agreement after Russian strikes hit a Ukrainian power plant. FTMQ News also noted that Trump had announced a deal with Putin to temporarily lift sanctions on United States imports of Russian diesel fuel. [6]

Global energy markets have faced broader pressures in recent months. Shipping traffic through the Strait of Hormuz, through which about 25% of the world's seaborne oil trade and 20% of liquefied natural gas passed, has been largely blocked by Iran since February 28, 2026. As FTMQ News reported earlier, the International Energy Agency previously described the conflict involving Iran as the largest supply disruption in global oil history. [4][7]