Trump Announced an Ukraine-Russia Energy Ceasefire. Oil Prices are Climbing Anyway.

Oil prices are climbing on Monday after Ukrainian President Volodymyr Zelenskyy said Russia has kept targeting the country's energy infrastructure despite a ceasefire announced by President Donald Trump.

Brent crude, the international benchmark, gained 1.35% and stood at $106.13 per barrel at 8:00 a.m. ET, while West Texas Intermediate, the U.S. benchmark, climbed 1.47% and clocked in at $93.20 per barrel at the same time.

Zelenskyy said on Monday that "there were ​Russian violations of the energy ceasefire announced by President Trump."

Speaking in the context of a conference in Poland of which he took part through video. Kyiv accused Moscow of striking a thermal power plant in the city of Kharkiv.

Zelenskyy went on to say that he continues to wait for details of the deal announced by Trump, which he claimed to be unaware of before it was unveiled.

"We are waiting to see one specific step the Americans are ready to take," Zelenskyy added. "This energy ceasefire, it can work, and it can become a major step toward ending the war if the Americans truly step in now and make sure Russians respect it."

The Ukrainian president again claimed that was not the case so far, as "more and more Russian jet-powered shaheds have continued to enter our skies over Kyiv and other Ukrainian cities."

"We shoot down many of them, and if we didn't, there would clearly be even more damage to our energy infrastructure," he added, saying the continued attacks were Russian President Vladimir "Putin's answer to Trump" so far.

Trump declared the ceasefire in a social media post on Sunday, saying both parties had agreed to it and urging them not to break it. The Kremlin has not confirmed the deal, saying that contacts were still ongoing.

The announcement came just two days after Trump announced that he and Putin had agreed to lift U.S. sanctions on Russian diesel in exchange for the Kremlin releasing diesel to supply the American and global marketplaces.

The White House's rhetoric towards Kyiv has also become increasingly adversarial, as Trump called for Zelensky to be replaced on Saturday over the latter's unwillingness to stop striking Russian oil refineries, which Trump claimed were primarily responsible for rising global and domestic fuel prices, a phenomenon which most experts attribute to the hostilities between the U.S. and Iran.

Elsewhere, Iran International reported that a tanker was set ablaze in the Strait of Hormuz after a drone strike, with two members of the crew missing. It was one of three vessels hit during the weekend.