At midday, the Brent posted a slight increase of 0.08% to 66.64 dollars and WTI a sensitive bent of 0.03% to 63.86 dollars.
Oil prices oscillate on Monday pending inflation figures in the United States and the Trump-Putine Summit scheduled for Friday, which could play on sanctions targeting Russian oil.
Around 10:00 am GMT (12:00 p.m. HEC), the Brent of the North Sea barrel, for delivery in October, increased slightly by 0.08%, to 66.64 dollars.
The West Texas Intermediate (WTI), for delivery in September, was just 0.03%fell to 63.86 dollars.
Investors are awaiting the publication Tuesday of the Consumer Price Index (ICC) for July in the United States, a key indicator of inflation.
These figures “will be crucial before the Fed meeting in September”, insists Kathleen Brooks, analyst at XTB, because a drop in rates could be compromised by “inflation greater than expectations”.
High guiding rates would slow down access to credit, which could weigh on global oil demand.
Donald Trump and Vladimir Putin must also meet on Friday in Alaska to discuss a possible appeasement of the conflict in Ukraine.
“Trump is very little likely to impose sanctions on Russian oil as long as this process is underway,” said Bjarne Schieldrop, analyst at Seb Research.
China, the leading importer of Russian oil, praised these discussions, when the United States has threatened sanctions on countries buying Russian crude, such as India, struck by 50% customs duties on certain products.
The price price between Beijing and Washington is due to end on Tuesday, when customs duties could return to higher levels.
“The market seems very relaxed” and to think “that an agreement will ultimately be concluded”, comments Russ MOULD, analyst at AJ Bell, however.
The continuation of the commercial truce between Washington and Beijing could thus limit uncertainties on the oil market.