Oil Ticks Higher as Traders Focus on US Moves Over Russian Crude

Bloomberg · last updated August 7, 2025 – 6:37 AM

Oil recovered from Wednesday’s decline, with traders awaiting the outcome of a planned meeting between Presidents Vladimir Putin and Donald Trump in the coming days.

Brent futures climbed toward $68 a barrel after earlier switching between gains and losses. Kremlin foreign policy aide Yuri Ushakov told reporters Russia and the US had agreed on a venue for the meeting, which would be disclosed later.

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