CRUDE WRAP: WTI (V5) SETTLES USD 0.93 LOWER AT 61.77/BBL; BRENT (V5) SETTLES USD 0.81 LOWER AR 65.79/BBL

Analysis details (19:16)

The crude complex was lower on Tuesday and weighed on by broader risk-off sentiment. The main headline risk this week has been the US/Ukraine/Russia peace talks, and although talks may advance and there is a possibility of a Putin/Zelensky summit, no breakthrough has been seen yet, which was widely anticipated. There are several sticking points in the negotiations, with a main one being Ukraine's refusal to cede any land, something Russia wants them to do, and the US has even suggested may need to happen. In terms of the next stages, the White House Press Secretary said Putin has agreed to begin the next stage of the peace process, and the accommodations for a Zelensky/Putin meeting are underway, with reports suggesting it could take place in Budapest, Hungary. Elsewhere, newsflow was sparse as traders await private inventory metrics after hours, whereby expectations are (bbls): Crude -1.8mln, Distillate +0.9mln, Gasoline -0.9mln. For the record, WTI traded between USD 61.65-62.68/bbl and Brent between USD 65.61-66.58/bbl.

19 Aug 2025 - 19:32- EnergyGeopolitical- Source: Newsquawk