US EditionOil Jumps Ahead Trump-Putin Meeting As Ceasefire Hopes Ease
Oil prices rose 0.37% amid concerns over potential tightening of Russian crude sanctions linked to the U.S.-Russia summit despite forecasts of rising global supply, according to market data.
- On Thursday, Brent crude futures rose 1.63% to $66.70 as traders positioned ahead of Friday's summit in Alaska and weak fundamentals weighed.
- Amid abundant production, U.S. crude inventories unexpectedly rose by 3 million barrels in the week ended August 8, and IEA forecast projected rapid supply growth in 2025 and 2026.
- Trump warned of `severe consequences` if President Vladimir Putin does not agree to peace in Ukraine, threatening secondary tariffs on Chinese and Indian buyers of Russian crude on Wednesday.
- Meanwhile, traders position ahead of Friday's meeting, while Kalshi places the odds of a summit before Aug. 21 at just 7% and Trump said there is a 25% chance the meeting will fail outright.
- Rystad Energy said ongoing uncertainty adds a bullish risk premium to oil markets, and the outcome of the Alaska meeting could shape future global energy flows.
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28 Articles
Daily Journal
Oil prices rise ahead of US-Russia summit as stocks digest inflation data
Wall Street stocks finished little changed Thursday as markets absorbed a disappointing inflation report, while oil prices shot higher on the eve of a US-Russia summit on Ukraine.
Oil Prices Jump as Traders Brace for Trump–Putin Showdown
Brent crude rose 1.63% to $66.70 and WTI gained 1.74% to $63.74 on Thursday, as of 11:50 a.m. ET, with traders positioning ahead of a closely watched meeting between U.S. President Donald Trump and Russian President Vladimir Putin in Alaska. The talks, expected to touch on Arctic oil and gas development as well as the war in Ukraine, come as markets weigh the potential for new energy cooperation or geopolitical friction between two of the world’…
Oil prices are rising today. Investors are assessing the possible impacts of Friday's meeting between US and Russian Presidents Donald Trump and Vladimir Putin, which is expected to address the end of the military conflict between Russia and Ukraine. The price increase is also being driven by expectations that the US Federal Reserve will cut interest rates in September. Lower interest rates may stimulate economic growth and demand for oil. The p…
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