Global oil prices edged higher on Tuesday as markets reacted to renewed diplomatic efforts between the United States and Russia aimed at ending the war in Ukraine.
WTI crude traded at $59.24, up 0.49%, while Brent crude rose to $62.88, gaining 0.34%.
The price movement followed high-level peace talks in Moscow, where U.S. special envoy Steve Witkoff held nearly five hours of discussions with Russian President Vladimir Putin and his aides on a revised 19-point peace proposal.
Traders interpreted the talks as a potential turning point for future Russian energy flows, even though no concrete breakthrough emerged from the meeting.
Territorial Disputes Continue to Stall Peace Deal
Despite the renewed engagement, Russian officials confirmed that major obstacles remain. Putin’s foreign policy adviser, Yuri Ushakov, said the talks neither advanced nor weakened the peace process.
He stressed that territorial control remains the core issue. Russia insists that any final agreement must address land under Russian occupation or claim. This includes large parts of eastern Ukraine’s Donbas region.
Ukraine continues to reject those demands. Kyiv has repeatedly ruled out surrendering territory or limiting its military strength and NATO ambitions.
As a result, uncertainty still clouds the prospects of a comprehensive peace—and by extension, the stability of global energy supply routes tied to the Russia-Ukraine conflict.
Tensions Rise Between Russia and Europe
Meanwhile, Moscow and European governments traded sharp accusations. Russia accused Europe of trying to disrupt the peace process after EU states submitted amendments to the U.S. draft deal.
Those amendments aimed to remove clauses that European leaders say weaken Ukrainian sovereignty. Russia rejected the proposals outright.
Putin also warned that Russia stands ready to confront Europe if it enters the conflict directly. However, he said Moscow remains open to European participation in talks—if they accept what he described as battlefield realities.
The European Union, in response, reaffirmed that it will not recognize any forced change of borders and that only Ukraine can decide its territorial future.
Uncertainty Clouds the Path Forward
President Donald Trump, who returned to office promising to resolve the war quickly, has grown openly frustrated with the slow pace of negotiations. Talks only regained momentum in recent weeks.
Zelenskyy said he expects direct feedback from the U.S. delegation following the Moscow meeting. He also signaled readiness to meet Trump depending on how discussions evolve.
Until then, the unresolved conflict—and the uncertain outlook for Russian energy supply—continues to shape movements in global oil markets.