Published on, Aug. 17 -- August 17, 2025 3:11 PM

Oil markets are expected to stay calm following a key summit in Alaska between US President Donald Trump and Russian President Vladimir Putin. Trump said both leaders agreed to push directly for a peace deal in Ukraine rather than a temporary ceasefire, which had been the focus of Ukraine and its European allies until now. This shift in diplomatic tone is unlikely to cause major changes in oil prices in the short term.

Following the meeting, Trump announced he would delay any new sanctions on countries buying Russian oil, including China and India. This decision reduces the chances of disruption in global oil supply. Analysts believe Russian oil will keep flowing steadily, which may push ...