SINGAPORE: Oil prices were little changed on Wednesday as investors awaited US inventory data, while eyeing an upcoming meeting between US President Donald Trump and Russian President Vladimir Putin.
Brent crude futures dipped 3 cents, or 0.05 percent, to $66.09 a barrel at 9:11 a.m. Saudi time, while US West Texas Intermediate crude futures edged down 8 cents, or 0.13 percent, at $63.09. Both contracts settled lower on Tuesday.
Trump and Putin are due to meet in Alaska on Friday to discuss ending Russia’s war in Ukraine that has shaken oil markets since February 2022.
Oil investors are in a “wait-and-see mode” ahead of the meeting, said ING commodity strategists.
“The outcome could remove some of the sanction risk hanging over the market,” the ING strategists added.
