Oil prices traded slightly lower in the early morning in Europe on Monday as U.S. President Trump’s announcement of an “energy ceasefire” between Russia and Ukraine offset this weekend’s escalation in the Middle East.
Brent Crude prices were at $104 per barrel, and the U.S. benchmark, WTI Crude, traded at about $91 a barrel, down by 0.2% and 0.7%, respectively. The King Khalid International Airport in the Saudi capital Riyadh was hit by the Yemen-based Iran-backed Houthis with ballistic and cruise missiles on Saturday in…