The possibility of further negotiations at this point is not clear.
WTI crude oil for September delivery was last seen at $ 1.20 (or 1.88%) to $ 62.76 per barrel.
To end the long, three-plas-year struggle between Russia and Ukraine, which began in 2023 with its neighbor’s invasion, a few days ago, US President Donald Trump gave Russia an ultimatum to end the struggle or to cope with restrictions, a danger that Russia ignored.
Increasing the broker’s efforts for a ceasefire, today, Donald Trump is meeting with Russian President Vladimir Putin at Encourage, Alaska around EST at 03:00 pm.
A few hours before the summit began, Russia allegedly launched a ballistic missile at Dnipropetrovsk in the central Ukraine, injuring at least one.
While Trump had previously warned Russia of serious consequences, if it continues the summit after the war, he also expressed confidence that something would come for the meeting.
Russia lives under Western sanctions for its oil exports. The Trump government has targeted Russian oil, mainly with “penalty tariffs” to buyers from India and China.
India alone sour about 37% of its total raw imports, about 1.8 million barrels per day from Russia in the first half of 2025.
An disagreement can put the opposite pressure on the oil prices with pressure on Russian oil buyers along with pressure on Russia.
Overseupply concerns exist in the possibility of Ukraine’s Russia accepting some fields or if the US relaxes its sanctions against Russia as either it can flood the market with dandruff.
Japanese data showed that its GDP grew 0.3% in the second quarter of 2025 in the quarter and the economy increased by 1.0% on an annual basis.
Being one of the major consumers of Asia, this data indicates the demand for strong oil from the country.
Showing US inflation slowly growing and modified recruitment data in recent months, a Reuters Pole revealed that most economists hope that the fed may cut borrowing rates in September and possibly another time by the end of the year.
Crude oil is a dollar-sect item, traders focus on the main address of the upcoming Fed Chair in the Jackson Hole Seminar, which recently receives guidelines on rate cuts between OPEC+ decision, which is to increase the output to increase EIA’s forecast.
The idea and opinion expressed here are the idea and opinion of the author and not necessarily Nasdac, Inc.
