Baghdad: Oil prices stabilized on Monday as investors awaited the outcome of talks to be held between the United States and Russia this week regarding the war in Ukraine. Brent crude futures rose 12 cents, or 0.18 percent, to $66.71 a barrel, while US West Texas Intermediate (WTI) crude futures also rose 19 cents, or 0.3 percent, to $64.07 a barrel.
According to National Iraqi News Agency, US President Donald Trump announced last Friday that he would meet with his Russian counterpart, Vladimir Putin, on August 15 in Alaska to negotiate an end to the war in Ukraine. The talks are anticipated to influence the global oil market, which experienced a decline of more than 4 percent last week amid geopolitical uncertainties.
The upcoming meeting between the US and Russia is seen as a significant diplomatic effort to address the ongoing conflict in Ukraine, with potential implications for energy markets worldwide. Investors are closely watching the developments, hoping for a resolution that could stabilize oil pric
es further.