Oil Prices Stable in US Session
Global crude oil prices were stable on Monday (August 18th) ahead of a crucial meeting between US President Donald Trump and Ukrainian President Volodymyr Zelenskyy at the White House. The market is awaiting the outcome of peace talks after the Trump-Putin meeting in Alaska last Friday failed to produce a concrete agreement.
Brent prices edged up 0.14% to $65.54 per barrel, while WTI rose 0.11% to $62.87 at 13:00 GMT. Last week, Brent fell 1.1% and WTI fell 1.7%, reflecting market uncertainty stemming from geopolitical developments.
Investors are now focused on the potential impact of these meetings on global supply, including the potential for sanctions relief or tightening energy supplies. Trump suggested Ukraine should give up its claims to Crimea and cancel plans to join NATO, signaling his growing alignment with Moscow's position.
Meanwhile, White House trade adviser Peter Navarro stated that India's purchases of Russian oil are helping fund Russia's war in Ukraine. These comments sparked renewed concerns about global energy supply flows, prompting some investors to buy oil. (ayu)
Source: Newsmaker.id