- Oil falls ahead of Trump-Putin meeting
- The WTI prompt-month contract fell $0.37 to $63.59/Bbl Tuesday morning (7:45 AM CT)
- President Trump extended the China tariff truce for 90 days on Monday, and absent other major drivers, traders are looking to a meeting between Trump and Putin later this week for any addition of possible sanctions
- Trump has downplayed expectations for his upcoming meeting with Russian President Vladimir Putin, calling it a “feel-out meeting”
- Threats of additional tariffs are having little impact on flows ahead of the meeting as Rusia’s oil shipments remain within range seen so far this year, according to Bloomberg
- OPEC forecasts tighter oil outlook (Bloomberg)
- Citing accelerated demand growth and slower expansion in non-OPEC supplied, OPEC forecasts a tighter global oil market than previously projected
- The group raised estimated for world demand growth in 2026 by 100 MBbl/d to 1.4 MMBbl/d
- However, OPEC’s outlook has been excessively bullish in recent
![]() |
|
![]() |
Looking for interest rate charts? We moved them here |