Trump sets expectations for meeting with Putin
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Yahoo
15 minutes ago
- Yahoo
Oil regains ground from 2-month lows ahead of Trump-Putin meeting
By Katya Golubkova TOKYO (Reuters) -Oil prices edged higher on Thursday, regaining ground after a sell-off in the previous session, with the upcoming meeting between U.S. President Donald Trump and his Russian counterpart Vladimir Putin raising risk premiums in the market. Brent crude futures were up 28 cents, or 0.43%, at $65.91 a barrel at 0057 GMT, while U.S. West Texas Intermediate crude futures rose 23 cents, or 0.37%, to $62.89. Both contracts hit their lowest in two months on Wednesday after bearish supply guidance from the U.S. government and the International Energy Agency (IEA). Trump on Wednesday threatened "severe consequences" if Putin does not agree to peace in Ukraine. Trump did not specify what the consequences could be, but he has warned of economic sanctions if the meeting in Alaska on Friday proves fruitless. "The uncertainty of U.S.-Russia peace talks continues to add a bullish risk premium given Russian oil buyers could face more economic pressure," Rystad Energy said in a client note. "How Ukraine-Russia crisis resolves and Russia flows change could bring some unexpected surprises." Another support for oil is that the expectation that the U.S. Federal Reserve will cut rates in September is at close to 100% after U.S. inflation increased at a moderate pace in July. Treasury Secretary Scott Bessent said he thought an aggressive half-point cut was possible given recent weak employment numbers. The market is putting the odds of a quarter-percentage point cut at the Fed's September 16-17 meeting at 99.9%, according to the CME FedWatch tool. Lower borrowing rates would drive demand for oil. The dollar was hovering near multi-week lows against the euro and sterling on Thursday as traders ramped up bets for the Fed to resume cutting interest rates next month. Oil prices were kept in check as crude inventories in the United States unexpectedly rose by 3 million barrels in the week ended on August 8, according to the U.S. Energy Information Administration on Wednesday, against expectations in a Reuters poll for a 275,000-barrel draw. [EIA/S] Also, holding oil back was an International Energy Agency forecast that 2025 and 2026 world oil supply would rise more rapidly than expected, as the Organization of the Petroleum Exporting Countries and its allies, together known as OPEC+, increase output and production from outside the group grows. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Associated Press
15 minutes ago
- Associated Press
Melania Trump demands Hunter Biden retract 'extremely salacious' Epstein comments
WASHINGTON (AP) — First lady Melania Trump demanded that Hunter Biden retract comments linking her to sex trafficker Jeffrey Epstein and threatened to sue if he does not. Trump takes issue with two comments Biden, son of former President Joe Biden, made in an interview this month with British journalist Andrew Callaghan. He alleged that Epstein introduced the first lady to now-President Donald Trump. The statements are false, defamatory and 'extremely salacious,' Melania Trump's lawyer, Alejandro Brito, wrote in a letter to Biden. Biden's remarks were widely disseminated on social media and reported by media outlets around the world, causing the first lady 'to suffer overwhelming financial and reputational harm,' he wrote. Biden made the Epstein comments during a sprawling interview in which he lashed out at 'elites' and others in the Democratic Party he says undermined his father before he dropped out of last year's presidential campaign. 'Epstein introduced Melania to Trump. The connections are, like, so wide and deep,' Biden said in one of the comments Trump disputes. Biden attributed the claim to author Michael Wolff, whom Trump disparaged in June as a 'Third Rate Reporter.' He has accused Wolff of making up stories to sell books. The first lady's threats echo a favored strategy of her husband, who has aggressively used litigation to go after critics. Public figures like the Trumps face a high bar to succeed in a defamation lawsuit. The president and first lady have long said they were introduced by Paolo Zampolli, a modeling agent, at a New York Fashion Week party in 1998. The letter is dated Aug. 6 and was first reported Wednesday by Fox News Digital. Abbe Lowell, a lawyer who has represented Biden in his criminal cases and to whom Brito's letter is addressed, did not immediately respond to a request for comment late Wednesday. ___
Wall Street Journal
17 minutes ago
- Wall Street Journal
How Finland's Golf-Loving President Got Trump to Hear Him Out on Russia
HELSINKI—Finnish President Alexander Stubb is up by 5 a.m. most mornings for triathlon training, a sauna—and, lately, a call from Donald Trump. 'Why are you up already?' Trump asked in a recent predawn conversation.
