Trump Reportedly Urges Russian President To Deescalate War With Ukraine: Here's How Crude Oil WTI Futures Are Reacting

Crude oil WTI futures saw a slight uptick following a significant phone call between President-elect Donald Trump and Russian President Vladimir Putin.

What Happened: At the time of writing, Crude Oil WTI Futures was up 0.18% at $70.25 per barrel on Monday during pre-market hours.

Don't Miss:

• Over the last five years, the price of gold has increased by approximately 83% — Investors like Bill O’Reilly and Rudy Giuliani are using this platform to create customized gold IRAs to help shield their savings from inflation and economic turbulence. 

• This well known prop trading firm is offering 100% of your first $25,000 profit per account and 90% after that. Here's how to get a special 50% OFF CODE that lets you start out with monthly investments as low as $147 today.

President-elect Trump reportedly had a phone discussion with President Putin on Thursday, marking their first interaction since Trump’s election win, The Washington Post reported on Sunday. Trump urged Putin to refrain from escalating the Ukraine conflict, highlighting the substantial U.S. military presence in Europe. The dialogue also included discussions on achieving peace across Europe, with Trump expressing interest in further talks to hasten a resolution to the Ukraine issue.

Trending: This Adobe-backed AI marketing startup went from a $5 to $85 million valuation working with brands like L'Oréal, Hasbro, and Sweetgreen in just three years – here's how there's a limited time opportunity to invest at $1,000 for only $0.50/share before closing date.

These developments could have contributed to a rise in Crude Oil WTI Futures. The market often responds to potential de-escalation in geopolitical tensions, which can ease supply concerns and potentially lower prices.

Why It Matters: The phone call between Trump and Putin comes amid heightened scrutiny of Russian oil trade. The U.S. Justice Department has been intensifying efforts to enforce sanctions on Russia’s energy exports. This includes investigating Murtaza Lakhani and his ties to Rosneft Oil, a Russian state-backed energy giant in 2023.

Trending: During market downturns, investors are learning that unlike equities, these high-yield real estate notes that pay 7.5% – 9% are protected by resilient assets, buffering against losses.

Additionally, Russian oil has found its way to U.S. shores through a sanction-busting loophole, despite a ban on its import following Russia’s invasion of Ukraine.

Oil prices have been volatile lately, with OPEC+ recently delaying production increases ahead of the U.S. elections, causing a spike in prices.