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42m ago

Oil Dips After Trump Moves to Broker Putin‑Zelenskiy Talks, With India Warning Reviving Supply Jitters

Markets look for fresh sanction guidance following a push for a three‑way summit.

oil
Investors stayed on the sidelines on Asian markets Tuesday after Wall Street treaded water ahead of talks in the White House on ending the Ukraine war
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Overview

  • In early Asian trading Tuesday, Brent eased to about $66.53 and WTI September to $63.36 after a roughly 1% rise on Monday.
  • Trump said he called Vladimir Putin and began arranging a meeting with Volodymyr Zelenskiy to be followed by a trilateral summit.
  • White House trade adviser Peter Navarro said India’s purchases of Russian crude “had to stop,” lifting prices earlier and reviving concern over supply flows.
  • Russian crude deliveries to Hungary and Slovakia via the Druzhba pipeline were halted after a strike on a transformer station, with officials offering conflicting blame.
  • Traders judge near‑term sanction escalation risk lower after the Trump‑Putin meeting in Alaska and are watching Jerome Powell’s Jackson Hole remarks for demand cues.