Oil Price Drop Could Force Russia-Ukraine Peace, Trump Says - WTI Falls

WTI crude oil declined approximately $0.20 following comments from Trump suggesting that lower oil prices could compel Putin to end the Ukraine conflict. The former president has been actively pressuring Europe and India to cease Russian oil purchases, though the distinction between global oil prices and Russian-specific pricing remains unclear given the interconnected nature of energy markets. The Russian oil price cap mechanism implemented by Western nations has shown limited effectiveness in constraining Moscow's energy revenues. This development adds to existing bearish pressure on crude markets amid concerns about global demand growth. Technical traders are watching the $70 support level for WTI, with resistance at $72.50. The geopolitical implications could create additional volatility in commodity-linked currencies, particularly CAD and NOK, while potentially supporting safe-haven flows into USD and JPY.