Brent down 0.4% to $65.62; WTI 0.2% lower at $62.66.
Trump signals willingness to seek broader Ukraine peace deal with Putin.
Market fears of tighter Russian supply ease, but attention turns to Trump-Zelenskiy talks.
Oil prices edged lower in Asian trade on Monday as concerns over Russian supply eased following last week’s meeting between U.S. President Donald Trump and Russian President Vladimir Putin, which ended without an immediate Ukraine ceasefire.
Brent crude futures for October delivery slipped 0.4% to $65.62 a barrel by 00:30 GMT, while West Texas Intermediate (WTI) futures fell 0.2% to $62.66. Both benchmarks dropped nearly 1.5% on Friday, capping steep weekly declines ahead of the U.S.-Russia summit.
At the Alaska meeting, Trump softened his stance, shifting from demands for an immediate ceasefire to pursuing a broader peace deal with Moscow. The move reduced expectations of fresh sanctions on Russia’s energy sector and tempered fears of disrupted crude flows.
Trump also signaled he would delay tariffs on countries such as China and India—the top buyers of Russian oil—but warned action could follow within weeks if no diplomatic progress is made.
Looking ahead, markets are focused on Trump’s scheduled meeting with Ukrainian President Volodymyr Zelenskiy and European leaders in Washington on Monday, where efforts to reach a swift peace deal could reshape geopolitical risks. Trump said over the weekend that “BIG PROGRESS ON RUSSIA” was coming, though he gave no details.
For now, easing sanctions concerns and ongoing diplomacy are expected to keep downward pressure on oil until clearer outcomes emerge from negotiations.
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