Ankara: Oil prices stabilized as investors focused on the upcoming summit between US and Russian Presidents Donald Trump and Vladimir Putin on Friday.

According to National Iraqi News Agency, Brent crude traded near $67 a barrel after jumping 1.8% in the previous session, recovering earlier losses during the week. Meanwhile, West Texas Intermediate crude stabilized around $64 in thin trading.

Putin intensified his warm messages ahead of the meeting, praising Trump’s efforts to mediate an end to the war. Trump stated in an interview with Fox News Radio that a positive outcome of the summit would be a second meeting between Putin and Ukrainian President Volodymyr Zelensky, noting that there was a 25% chance the meeting would fail.