Oil Prices Dip as Russia Supply Concerns Ease After Trump-Putin Summit
Oil prices fell slightly on Monday after the Trump-Putin summit in Alaska. The meeting indicated a focus on reaching a full Ukraine peace deal rather than just a ceasefire. This helped ease fears of disruptions to Russian oil supply, and the U.S. decided not to impose additional sanctions on Russian oil exports.
Brent crude futures fell 6 cents to $65.79 per barrel, while U.S. West Texas Intermediate (WTI) crude traded at $62.82 per barrel. Analysts say the lack of new sanctions reduced worries about global oil supply, causing a small decline in prices.
Investors are now watching upcoming developments closely, including a planned meeting between President Trump, Ukrainian President Volodymyr Zelensky, and European leaders. These talks aim to speed up the peace process and could affect global oil markets.
Overall, the easing of immediate Russia supply concerns has given some stability to oil prices, though the market remains sensitive to geopolitical events.
Impact:
Oil prices might stay stable if peace talks progress smoothly. However, any new tensions or supply disruptions could cause prices to rise or fall quickly.
