Oil Prices Rise Amid Trump-Putin Summit Expectations
I settled Oil prices With investors focus on The upcoming summit Between the American and Russian presidents on Friday, Donald Trump indicated a great opportunity for the success of the meeting, which could open the door for talks with Ukraine.
Brent crude circulated near $ 67 a barrel after 1.8% jumped in the previous session, compensating previous losses during the week, while the West Texas crude settled around $ 64 in weak trading. Vladimir Putin intensified the messages of friendliness before the meeting, praising Trump’s efforts to mediate to end the war.
He said Trump In an interview with “Fox News Radio” that the positive result of the summit will be a second meeting between Putin and Ukrainian President Folodimir Zellinski, indicating that there is a 25% possibility for the lack of success.
Expectations to achieve limited weekly gains
Oil is heading to make modest weekly gains amid slight optimism among customers before the summit.
During the week, Trump once tried to reduce the ceiling of expectations about the meeting, before it was followed by a warning against imposing “very severe consequences” if Putin did not agree to a ceasefire.
“The direct shooting is unlikely, but there may be results to enhance US -Russian cooperation and a later negotiation framework, which will be negative for oil prices,” said Zhou Mai, an analyst at the Caus Turnari Futures research institute.
Presse factors on the market
Any indicators of mitigating US sanctions on Russian energy may push oil prices to further decline, especially after it lost about 10% this year due to fears of the impact of Trump’s commercial policy andThe quick return to “OPEC+” supplies. Expectations of standard vaccination in 2026 receive a shadow on market morale.
Some market indicators indicate a relative weakness, as the immediate difference of “Brent” crude decades (the difference between the two nearest decades) compared to the past month, but it is still in a structure What reflects the ups in bullish.
Meanwhile, Ukrainian aircraft launched an attack on a major Luke Oil refinery in Volgograd at dawn on Thursday, as Kiev intensified its strikes on the Russian energy infrastructure this month.