Oil prices weakened following the Trump-Putin meeting in Alaska today. Brent fell 0.93% to $66.18/barrel at the time of writing.
The market is weighing the possibility of a ceasefire in Ukraine, which could lead to the easing of Russian oil sanctions, versus a stalemate that risks triggering secondary US sanctions.
Sentiment is also underscored by weak Chinese data (falling factory output, slowing retail sales) and concerns about a supply surplus as OPEC+ production increases. The IEA assesses that the market is likely oversupplied, making prices easily bearish.
Oil prices at the time of writing were at $66.18/barrel.
DISCLAIMER
Note: This article is analytical only and is not a definitive reference. Please consider fundamental and technical aspects of trading before making any investment decisions.
Source: Newsmaker.id
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