Oil prices likely to remain volatile as investors focus on Trump-Putin meeting in Alaska
According to the agency report citing market analysts, irrespective of the outcome of the US-Russia talk, the event will create winners and losers in the energy sector.
If the results of the talk are towards peace, that would mean lower fuel prices, which may even lead to a bearish oil sector for the upcoming months and years. On the other hand, in case the sanctions over Russian oil is hardened or increased, then the oil prices will rise giving new energy to the oil sector, the analyst told the news portal.
'I don't think there's a big wall of oil coming from Russia if peace breaks out,' Dan Pickering, founder and chief investment officer for Pickering Energy Partners consulting and research firm told the news portal.
'My expectation is there's a more significant impact on sentiment—'Here come the Russians'—than there would be on actual barrels,' he said.
As of 4:46 p.m. (BST), Brent Crude's continuous contract was trading 0.78% lower at $66.32 per barrel (bbl), compared to $66.84 per barrel, MarketWatch data shows.
While, the Crude Oil WTI Futures for the September 2025 contract were also down 1.19% at $63.19/bbl, compared to $63.96/bbl, according to Investing.com.
According to the news report citing U.S. Department of Energy (DOE) data, Russia has produced 9.05 million barrels of crude oil per day in the April-June quarter of 2025.
Commodity market analysts are expecting a 200,000 barrels rise daily in the short-to-medium term. enough to fuel an uptick but not a sustainable rise in the oil sector.
'In a bullish market, the market probably shrugs it off. In a bearish market, every supply-related data point gets a little more weight than it probably should,' said Dan Pickering, according to the news portal's report. 'There's a bigger risk to sentiment than to the actual supply of oil.'
Russia is the third-largest oil producer in the world after US and Saudi Arabia. These three nations together account for 40% of the globe's crude oil daily supplies.
Mint reported earlier, that Russian President Vladimir Putin and US President Donald Trump are set to hold key 'one-on-one' talks at their landmark summit in Alaska on Friday, 15 August 2025.
As per the announcement, the national leaders will meet at a US airbase outside of Anchorage in Alaska, United States, after which both will give a joint press conference where they will 'summarise the results of the negotiations' between Russia and the US.
Putin's visit will be the first since the attack on Ukraine in February 2022. However, in a recent interaction with the media, US President Donald Trump disclosed that he will not negotiate on behalf of Ukraine in the "HIGH STAKES" meeting on Friday.
"They'll be discussed, but I've got to let Ukraine make that decision, and I think they'll make a proper decision. But I'm not here to negotiate for Ukraine, I'm here to get them at a table," Trump told reporters on-board Airforce One.
The meeting is scheduled to start around 11:00 local time in Alaska which marks 12:30 a.m. (IST) on Saturday, 16 July 2025.
According to multiple media reports, the Trump-Putin talk can be over multiple issues involving Ukraine crisis, broader issues like international peace and security, among several other things.
US President's trusted advisors including JD Vance, Marco Rubio, and Pete Hegseth will be among others who are set to attend the high level meeting in Alaska. From the Russian delegation, Sergei Lavrov (foreign minister), Yuri Ushakov (Kremlin's foreign policy advisor), Andrei Belousov (defence minister), Anton Siluanov (finance minister), Kirill Dmitriev (Russian Direct Investment Fund chief) will attend the meeting in Alaska.
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