13 March 2025: 16:30 GMT
Brent fell back but more slowly than the Ukrainians did from Sudhza. At least until the line collapsed and Brent dumped to a $69 handle again as Putin said a truce should lead to a long-term peace. Woohoo! But only under certain conditions. So in terms of actual movement, we remain staunchly at square one! Not going anywhere, just as French wine will under the new 200% Trump tariffs. Neither side is yet to acquiesce to the other’s conditions or soften their position… “We agree with the proposals for the ceasefire”, said Putin. But only on his own terms, having resolved certain “nuances”. A non-headline if ever we’ve seen one!
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