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Oil futures set for weekly decline ahead of Trump-Putin meeting
Oil slips toward weekly loss as Trump-Putin summit looms, injecting uncertainty into supply and sanctions outlooks.
Oil prices edged lower in early Asian trade and are headed for a weekly drop, as traders brace for a planned summit between U.S. and Russian presidents. The meeting injects uncertainty into supply outlooks and sanctions expectations. Brent crude dipped ~0.7%, and U.S. crude moved in tandem. The market is cautious about chapters on Ukraine, sanctions relief, and OPEC+ supply adjustments. Traders note that any signals of easing conflict could reverse discounting into prices quickly.