WASHINGTON (dpa-AFX) - Oil prices were little changed on Monday as the Alaska summit ended without any geopolitical escalation, easing concerns of supply disruption.
Benchmark Brent crude futures edged up by 0.1 percent to $65.94 a barrel in European trade, while WTI crude futures were up 0.4 percent at $62.22 a barrel.
While the Trump-Putin Alaska summit ended without a deal, U.S. Secretary of State Marco Rubio said that a temporary ceasefire agreement between Ukraine and Russia is 'not off the table.'
U.S. President Donald Trump on Sunday claimed Ukrainian President Volodymyr Zelensky could end the war by ceding the Crimea region to Russia and dropping Ukraine's bid to join the North Atlantic Treaty Alliance.
Zelenskyy and several European leaders will join Trump for a meeting at the White House later today to exchange views on the status of peace efforts, security guarantees, territorial issues, and further support for Ukraine.
Investors also await clues from Federal Reserve Chairman Jerome Powell's comments at this week's Jackson Hole meeting regarding the path of interest rate cuts.
Fed funds futures currently price in a nearly 85 percent likelihood that the central bank cuts rates at its next policy meeting in September, according to CME's FedWatch tool.
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