Crude oil
Even though there was no talk on Ukraine between US President Donald Trump and Putin. However, the meeting of both the heads of state was positive, the effect of which is also visible on the prices of crude oil. Due to the possibility of supply in supply, the price of crude oil is seen falling.
On Monday, oil prices are seen falling. Because, America did not put much pressure on Russia. In fact, after the meeting of the President of America and Russia on Friday, it became clear that the US would not immediately take strict steps on Russia’s oil exports. Brent Crude Future fell 26 cents, or 0.39% to $ 65.59 per barrel. At the same time, US WTI crude 18 cents i.e. 0.29% fell to $ 62.62 a barrel.
Trump and Putin meeting
On Friday, US President Donald Trump and Russian President Vladimir Putin met in Alaska. Trump agreed with Russia on the peace agreement rather than a ceasefire. On Monday, Trump Ukraine’s President will meet Jailonsky and European leaders, so that peace agreement can be reached as soon as possible and this war will end. Trump said that there is no need to impose additional tax on countries like China, who are buying oil from Russia. But perhaps it may have to think on this in 2-3 weeks. This reduced the fear in the market that Russia’s oil supply would be interrupted.
China is the world’s largest oil buyer and the most oil goes there from Russia. After that India’s number comes. This week, investors will also look at the Jackson Hole meeting, where Federal Reserve Chairman Colin Powell can indicate interest rates. If the rate cut is gesture, then the stock market can go to a new height. In the media report, IG Market Analyst Tony Sycamore said that Powell’s statement may not be clear and he will depend on the coming figures. Especially before the September 17 FOMC meeting, when another parole and CPI report is to come.