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For the September delivery, WTI crude oil was last seen trading at $ 0.60 (0.96%) to $ 63.40 per barrel.
In an attempt to end the three-Plus-year long Russian war with Ukraine, US President Donald Trump held a meeting with Russian President Vladimir Putin in Alaska on Friday.
Surprisingly after the meeting, instead of demanding an immediate ceasefire from Russia, Trump recommended that Ukraine agrees to receive a ceasefire for Russia to accept and join NATO, and achieve a ceasefire and achieve a ceasefire and agrees to gain American assurance of security.
With this difficult choice, Ukraine President Volodymyr Zelenskyy is meeting Trump today at the White House.
The European Union leaders are also involved in the talks supporting Zelanceci to show their solidarity with Ukraine because they are afraid that Putin may expand his aggression beyond Ukraine when an independent hand is given.
Market players are drawing their attention to the results of this important meeting. Note, Trump had earlier threatened Russia with heavy sanctions if the country continues to war.
Despite the API -supporting data points, which confirmed the fall of 4.2 million barrels in the inventory and 3 million barrel dradown, the recently made decisions by the OPEC+ member nations increased the crude oil production from the 547,000 barrels that begin in September – a reversal on a reversal in their output reading strategy.
Major oil -taking countries are also affecting oil prices at the end of the concern of economic growth in major oil -taking countries due to tariffs.
The idea and opinion expressed here are the idea and opinion of the author and not necessarily Nasdac, Inc.
