Oil prices fell on Monday after Donald Trump said Russia and Ukraine had agreed to suspend attacks on energy infrastructure, though Brent held above $100 a barrel. Brent traded at $104.50 a barrel in the morning, with WTI at $91.45, both as of 08:21 GMT.
Treasury issues waiver
The US Treasury issued a temporary authorization for certain Russian diesel transactions. The authorization expires on 7 April 2027. It does not lift general energy sanctions on Russia.
Analysts consider the volumes involved insufficient to drive a lasting decline in prices. Kyiv has said it is ready to suspend strikes if Moscow does the same, but accuses Russia of continuing attacks regardless.
Cramer urges caution
Jim Cramer, a CNBC host, posted on X urging investors not to overreact to the news. He expects oil to stay near $100 a barrel while the conflicts persist.
Cramer’s record has drawn scrutiny before. The Inverse Cramer fund, which bet against his calls, was liquidated in February 2024.
Related: Oil falls below $104 as Trump touts Russia-Ukraine energy truce · Oil rises despite Trump's Russia-Ukraine energy ceasefire claim
