US EditionOil Awaits Zelenskiy-Trump Meeting Clues on Peace Deal
Trump and Putin pause sanctions targeting key Russian oil importers including China, while oil prices fall nearly $1 per barrel ahead of peace talks with Ukraine and European leaders.
- On Monday, oil prices slipped in early Asian trade as the United States did not push for new measures against Russia after Friday's meeting.
- Following the U.S. president Donald Trump on Friday, the threat of immediate sanctions on Russia or secondary sanctions on other countries is put on hold for now, analysts say.
- Data by 2213 GMT show Brent crude futures dropped 32 cents, or 0.49%, to $65.53 and later fell 26 cents, or 0.39%, to $65.59 by 0028 GMT, while U.S. West Texas Intermediate eased to $62.57 and $62.62.
- Market participants are bracing for Monday’s summit outcomes, with oil prices likely to stay in a narrow range until a deal emerges, said Phil Flynn.
- Speculators held the first-ever net short WTI positions as of August 12, and traders monitor comments from U.S. Federal Reserve Chairman Jerome Powell at the Jackson Hole symposium.
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Oil awaits Zelenskiy-Trump meeting clues on peace deal
Oil prices held steady today as traders awaited clues from a meeting between US President Donald Trump and Ukrainian President Volodymyr Zelenskiy as they attempt to come to a peace deal to end Europe's deadliest war in 80 years.
·Ireland
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CDE NewsOil falls on easing Russia supply concerns after Trump-Putin meet
Investors are also watching Federal Reserve Chairman Colin Powell's comments at the Jackson Hole meeting this week to search for clues on the path of interest rate cuts that could boost stocks to more record highs.
·India
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Coverage Details
Total News Sources18
Leaning Left2Leaning Right2Center4Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 25%
C 50%
R 25%
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