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Wheat rose after weekend strikes between Russia and Ukraine made any deal to restart exports from the two major producers increasingly unlikely.
Oil steadied after jumping on Friday, as flareups in fighting in the Middle East and Ukraine dimmed the prospect of a return to normal crude flows.
Energy companies are poised to lead European earnings growth for a third straight quarter, as elevated energy prices stemming from the conflicts in the Middle East and Ukraine bolster profits across the sector.
Apart from the deal to allow Russia to sell diesel to the U.S. and global markets, U.S. President Donald Trump also announced an โenergy ceasefireโ between Russia and Ukraine
Oil held a gain as a widening conflict in the Middle East threatened to hamper a recovery in supply from the region, while there were also doubts over US President Donald Trumpโs claims of an โenergy ceasefireโ between Russia and Ukraine.
Ukrainian strikes have curtailed refinery output, and repairs could take weeks even if an energy ceasefire materializes.
Wheat declined for a fourth day after US President Donald Trump said Russia and Ukraine had agreed to an immediate โenergy ceasefire,โ raising hopes that an easing of hostilities could reduce Black Sea disruptions.
Gold edged higher as traders assessed US President Donald Trumpโs claim of an โenergy ceasefireโ between Russia and Ukraine, even as risks of a widening conflict in the Middle East raised inflation concerns.
President Donald Trump said Sunday that Russia and Ukraine have agreed to an โenergy ceasefireโ effective immediately.
Australia has no need to buy fuel from Russia and said that purchases from there will remain barred so that the country doesnโt benefit from the invasion of Ukraine.