Oil edged lower as Alaska talks signal temporary easing on Russian oil
The US also announced a temporary pause on tariffs targeting countries, including China, that buy Russian oil, easing pressure on Moscow for now.
Brent closed Friday at $65.85/barrel, down $0.99, while US West Texas Intermediate at $62.80, falling $1.16, as markets digested the Alaska meeting between US and Russia.
Whitehouse said a full peace settlement for Ukraine—not just a ceasefire—remains the goal, diverging from the approach pushed by Ukraine and European allies. The US also announced a temporary pause on tariffs targeting countries, including China, that buy Russian oil, easing pressure on Moscow for now.
Following Western sanctions, including a seaborne embargo and price caps, Russia has redirected exports to China and India. The suspension of additional tariffs preserves these flows, while avoiding disruption to the US-China trade truce.
Attention now turns to a Washington meeting on Monday between top officials from the US and Ukraine, with European leaders invited, which could clarify the future of sanctions and Russian crude flows.
Written: Aiman Haikal