Oil back before the Trump-Putin meeting

The oil prices fell on Friday. Moreover, before the long -awaited meeting between American presidents Donald Trump and Russian Vladimir Putin later in the day. Similarly, Discussions that could seal the fate of the war in Ukraine.

(Keystone-ATS) “Compulsory optimism is disseminated by both parties, but a mutually acceptable result remains uncertain,” said Tamas Varga, PVM analyst. Many “speculative financial players prefer not to keep open positions during the weekend. close their positions before the meeting,” said Arne oil back before trump-putin meeting Lohmann Rasmussen of Global Risk Management.

Around 11:50 am, the price of the Brent of the Brent of the North Sea, for delivery in October, ceded 0.77% to $ 66.32. Its American equivalent, the barrel of West Texas Intermediate, for delivery in September, lost 0.99% to 63.33 dollars.

For black gold. a diplomatic advance would probably be synonymous with upcoming reduced sanctions on the Russian economy and in particular on its energy sector. In addition. facilitating Russian gross exports would be a factor in decreasing prices, especially in the current context of the market which already provides for a supply surplus in the coming months.

The report of the International Energy Agency (AIE) published on Wednesday provides for the constitution of large oil stocks at the end of the year. in 2026. However. “the failure of negotiations on Ukraine could force Trump to act, because he clearly said that the failure of negotiations oil back before trump-putin meeting would have serious repercussions”, underlines Matt Britzman, analyst at Hargreaves Lansdown.

The American president has. for example, threatened to apply secondary customs duties to importing Russian oil countries, targeting India, second Russian gross consumer. In such a scenario, the barrel course, which has dropped since the beginning of August, could clearly go up.