- Oil prices erased their YTD gains following news of US-sponsored Ukraine peace talks. The potential reintegration of Russian oil into global markets could provide a quick boost to supply conditions, helping to stabilise prices.
- Rising US fuel prices and stagnating shale production may push the US government to seek a swift resolution to the Ukraine-Russia conflict, possibly strengthening its geopolitical position at the expense of others.
- The ongoing geopolitical shifts appear to be neutral for Indonesia, given the US’ strategic focus on the Asia-Pacific region and Russia’s continued role in Indonesia’s energy supply chain.
