Oil prices, energy stocks in focus amid Trump’s new Ukraine peace plan
This aerial photo shows the oil tanker Boracay anchored off the Atlantic Coast off Saint-Nazaire, western France, on October 1, 2025. French authorities said Wednesday they are investigating the oil tanker Boracay, which is anchored off the Atlantic Coast and is suspected of being part of Russia’s secret “shadow fleet.”
Damien Meyer | Afp | Getty Images
Oil prices continued their decline and energy stocks fell sharply on Friday morning as US President Donald Trump pushed for a peace deal to end the long-running Russia-Ukraine war.
International comparison Brent January crude oil futures fell 2% to $62.09 a barrel at 11:02 a.m. London time (6:02 a.m. ET), after falling 0.2% in the previous session. The contract is down more than 16% so far this year.
WE West Texas Intermediate Futures for January delivery were last seen down 2.4% at $57.61 after closing down 0.5% on Thursday.
Meanwhile, Europe’s Stoxx Oil and Gas index led losses, falling more than 2.7% in morning trading. britain’s Shell And blood pressure Both are trading around 1.6% lower, while Germany’s Siemens Energy fell more than 8 percent.
US oil majors ExxonMobil And Strip they were 0.4% and 0.2% lower, respectively, during premarket trading.
The bearish trend in markets comes as investors examine details of the Trump administration’s efforts to broker a peace deal between Russia and Ukraine.
Under a widely leaked plan, the United States reportedly offered Ukraine to give up territory including Crimea, Luhansk and Donetsk and vowed never to join the NATO military alliance.
The plan also states that Kiev will receive “reliable” security guarantees and that the size of the Ukrainian Armed Forces will be limited to 600,000 personnel. Associated Pressreceived a copy of the draft proposal. CNBC could not independently verify the report.
Analysts suspicious It was stated that the peace plan, which is thought to be in favor of Russia, will also be supported by Ukraine.
Guntram Wolff, senior fellow at Bruegel, a Brussels-based think tank, was among those skeptical about whether the proposed peace plan would result in a deal.
“I think it’s always good to talk to each other, so it’s a good development in that sense, but I have to say, when I see the details of this so-called peace plan, I don’t think it’s really going to fly,” Wolff told CNBC’s “Europe Early Edition” on Friday.
“Because in essence it says that Ukraine must give up a significant part of its military personnel, which means a reduction of military personnel by a third from 900,000 to 600,000,” he added.
General view of the PJSC Lukoil Oil Company storage tank at an oil terminal at Chaussee de Vilvorde in Brussels, Belgium, on October 30, 2025.
Thierry Monasse | Getty Images News | Getty Images
Along with the peace plan noise, energy market participants closely followed the potential impact of US sanctions on Russian oil producers Rosneft and Lukoil, measures that will take effect starting Friday, the strengthening of the US dollar and expectations for the Fed’s interest rate decision.
