Global oil prices rise nearly 3 percent following stalled Russia and Ukraine peace talks

Crude oil prices rose nearly 3 percent today after peace talks between Russia and Ukraine stalled. Tensions remain high as both sides failed to reach a deal.

GENEVA - Oil prices rose nearly 3% on February 18, 2026, after peace talks between Ukraine UAUA and Russia RURU in Geneva, Switzerland CHCH, ended after only two hours. The abrupt conclusion of the U.S.-mediated talks in Switzerland, which involved efforts by United States USUS President Donald Trump and officials such as Vladimir Medinsky and Volodymyr Zelenskiy, immediately impacted global energy benchmarks.
A view shows oil pump jacks outside Almetyevsk, in the Republic of Tatarstan, Russia on July 14, 2025. REUTERS/Stringer
A view shows oil pump jacks outside Almetyevsk, in the Republic of Tatarstan, Russia on July 14, 2025. REUTERS/Stringer
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