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Crude oil prices slide as market eyes US-Russia talks on Ukraine
Business World Philippines
|August 12, 2025
Crude oil prices fell in Asian trade on Monday, extending declines of more than 4% last week as investors awaited the outcome of talks between the US and Russia later this week on the war in Ukraine.
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Brent crude futures fell 33 cents, or 0.5%, to $66.26 a barrel by 0430 GMT, while US West Texas Intermediate (WTI) crude futures were down 39 cents at $63.49.
Expectations have risen for a potential end to sanctions that have limited the supply of Russian oil to international markets, after US President Donald J. Trump said on Friday that he would meet Russian President Vladimir Putin on Aug. 15 in Alaska to negotiate an end to the war in Ukraine.
The talks follow increased US pressure on Russia, raising the prospect that penalties on Moscow could also be tightened if a peace deal is not reached.
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