Ammon News - Oil prices rose on Monday as investors weighed the outcome of talks between the U.S. and Ukrainian presidents on a potential deal to end the war in Ukraine, as well as Middle East tensions that could disrupt supply.

Brent crude futures rose 63 cents, or 1.04%, to $61.27 per barrel at 0443 GMT, while U.S. West Texas Intermediate crude was up 58 cents, or 1.02%, to $57.32.

Both benchmark prices fell more than 2% on Friday as investors weighed a looming global supply glut and the possibility of a Ukraine peace deal ahead of weekend talks between Ukrainian President Volodymyr Zelenskiy and U.S. President Donald Trump.

U.S. President Donald Trump said on Sunday that he and Ukrainian President Volodymyr Zelenskiy were "getting a lot closer, maybe very close" to an agreement to end the war in Ukraine, while acknowledging that the fate of the disputed Donbas region remains a key unresolved issue.

The two leaders spoke at a joint press conference late Sunday afternoon after meeting at Trump's Mar-a-Lago resort in Florida. Trump said it will be clear "in a few weeks" whether negotiations to end the war will succeed.

Reuters