Oil prices edged lower on Tuesday in Asian trade as investors assessed the potential impact of fresh diplomatic efforts to end the war in Ukraine, a development that could reshape sanctions on Russian crude. According to Reuters, Brent crude futures fell 7 cents, or 0.11 per cent, to $66.53 a barrel by 0000 GMT. US West Texas Intermediate (WTI) crude for September delivery, due to expire on Wednesday, slipped 6 cents, or 0.09 per cent, to $63.36. The more active October WTI contract was down 9 cents, or 0.14 per cent, at $62.61 a barrel. The slight pullback followed a near 1 per cent rise in the previous session.<h2>Trump pushes for trilateral summit</h2>As quoted by Reuters, US President Donald Trump said he had spoken to his Russian counterpart Vladimir Putin after meeting Ukraine’s President Volodymyr Zelenskiy and European allies in the White House on Monday. Trump confirmed that plans were underway to organise a trilateral summit between himself, Putin, and Zelenskiy to discuss ending the war.&nbsp;Zelenskiy described his direct talks with Trump as “very good”, adding that security guarantees for Ukraine were on the table, according to Reuters.&nbsp;The push comes as Trump presses for a swift resolution to Europe’s deadliest conflict in eight decades. However, Kyiv and its allies remain concerned that Washington may push for terms that favour Moscow.<h2>Oil market reaction</h2>Analysts said the market is bracing for two possible outcomes. Bart Melek, head of commodity strategy at TD Securities, told Reuters that any breakthrough which de-escalates tensions and reduces the threat of sanctions or tariffs could drag oil prices closer to the bank’s fourth-quarter 2025 and first-quarter 2026 average target of $58 per barrel.&nbsp;On the other hand, if Washington decides to tighten pressure on Moscow through broader secondary tariffs against buyers of Russian oil, similar to those already imposed on India, crude could rally back toward the highs seen earlier this month, Melek added.&nbsp;For now, traders remain cautious, with oil markets caught between hopes of diplomacy and the risk of renewed sanctions pressure.&nbsp;(With inputs from the agencies)&nbsp;

The pullback followed a near 1% gain in the previous session. The moves came after US President Donald Trump said he had spoken with Vladimir Putin following talks with Volodymyr Zelenskiy, confirming plans for a trilateral summit to discuss ending the conflict.

Oil prices edged lower on Tuesday in Asian trade as investors assessed the potential impact of fresh diplomatic efforts to end the war in Ukraine, a development that could reshape sanctions on Russian crude. According to Reuters, Brent crude futures fell 7 cents, or 0.11 per cent, to $66.53 a barrel by 0000 GMT. US West Texas Intermediate (WTI) crude for September delivery, due to expire on Wednesday, slipped 6 cents, or 0.09 per cent, to $63.36. The more active October WTI contract was down 9 cents, or 0.14 per cent, at $62.61 a barrel. The slight pullback followed a near 1 per cent rise in the previous session. Trump pushes for trilateral summit As quoted by Reuters, US President Donald Trump said he had spoken to his Russian counterpart Vladimir Putin after meeting Ukraine’s President Volodymyr Zelenskiy and European allies in the White House on Monday. Trump confirmed that plans were underway to organise a trilateral summit between himself, Putin, and Zelenskiy to discuss ending the war. Zelenskiy described his direct talks with Trump as “very good”, adding that security guarantees for Ukraine were on the table, according to Reuters. The push comes as Trump presses for a swift resolution to Europe’s deadliest conflict in eight decades. However, Kyiv and its allies remain concerned that Washington may push for terms that favour Moscow. Oil market reaction Analysts said the market is bracing for two possible outcomes. Bart Melek, head of commodity strategy at TD Securities, told Reuters that any breakthrough which de-escalates tensions and reduces the threat of sanctions or tariffs could drag oil prices closer to the bank’s fourth-quarter 2025 and first-quarter 2026 average target of $58 per barrel. On the other hand, if Washington decides to tighten pressure on Moscow through broader secondary tariffs against buyers of Russian oil, similar to those already imposed on India, crude could rally back toward the highs seen earlier this month, Melek added. For now, traders remain cautious, with oil markets caught between hopes of diplomacy and the risk of renewed sanctions pressure. (With inputs from the agencies)

Oil prices dipped in Asian trade on Tuesday as investors weighed fresh diplomatic momentum to end the war in Ukraine. Brent crude futures slipped 7 cents to $66.53 a barrel, while US WTI for September delivery eased 6 cents to $63.36.

Oil slips as markets weigh Trump’s push for Russia-Ukraine peace talks

US President Donald Trump on Monday (Aug 18) told Ukrainian President Volodymyr Zelensky that Washington would back Ukraine's security in a deal to end the war with Russia. But, the question is would Kyiv be pushed to concede territory?. The pledge came during a high-stakes White House summit with Zelensky and a group of European leaders, just days after Trump's private meeting with Vladimir Putin in Alaska. The talks carried extra weight because only months earlier, Trump and Vice President JD Vance had publicly rebuked Zelensky in the Oval Office. In recent days, Trump has insisted that Ukraine would have to agree to land concessions or a swap to achieve peace. But was this a part of the Trump-Zelensky-EU leaders' Washington meeting? All you need to know.<h2>Was a land swap discussed during the Washington meet?</h2>French President Emmanuel Macron, who was part of the Washington meeting between Trump, Zelensky and the EU leaders, told reporters that the White House did not raise the prospect of Kyiv surrendering territory to Moscow. Asked by reporters if Trump had said that concessions were necessary before any US security guarantees to Ukraine, Macron said, "No, that wasn't discussed at all. We're well away from that."Meanwhile, German Chancellor Friedrich Merz has compared Moscow's demand that Kyiv surrender Donbass to Washington being told to hand over Florida. Insisting Ukraine should not be forced to give up land, Merz after talks at the White House, told reporters, "The Russian demand that Kyiv give up the free parts of Donbass corresponds, to put it bluntly, to a proposal for the United States to have to give up Florida".<h2>Trump's land-swap proposal</h2>Trump, in the past, has talked about land swaps, but neither Ukraine nor Russia has shown interest in ceding land to the other for peace. However, in recent weeks, Trump has taken to reiterating his suggestion that the negotiations between Russia and Ukraine, which he claimed were nearing a breakthrough, could potentially include a "swapping of territories". On Friday (Aug 8), talking to reporters, he said, "I think we're getting very close," adding that the land he suggests be swapped has "been fought over for three and a half years".Subsequently, on Monday (Aug 11), he again insisted, "There'll be some land swapping going on". "I know that through Russia and through conversations with everybody, to the good of Ukraine," he said, adding that Russia had occupied some "very prime territory" but that "we're going to try to get some of that territory back".&nbsp;

Of late, US President Donald Trump has been saying Ukraine must concede land for peace. Did this come up during the Washington meeting between Trump, Zelensky, and EU leaders? All you need to know.

US President Donald Trump on Monday (Aug 18) told Ukrainian President Volodymyr Zelensky that Washington would back Ukraine's security in a deal to end the war with Russia. But, the question is would Kyiv be pushed to concede territory?. The pledge came during a high-stakes White House summit with Zelensky and a group of European leaders, just days after Trump's private meeting with Vladimir Putin in Alaska. The talks carried extra weight because only months earlier, Trump and Vice President JD Vance had publicly rebuked Zelensky in the Oval Office. In recent days, Trump has insisted that Ukraine would have to agree to land concessions or a swap to achieve peace. But was this a part of the Trump-Zelensky-EU leaders' Washington meeting? All you need to know. Was a land swap discussed during the Washington meet? French President Emmanuel Macron, who was part of the Washington meeting between Trump, Zelensky and the EU leaders, told reporters that the White House did not raise the prospect of Kyiv surrendering territory to Moscow. Asked by reporters if Trump had said that concessions were necessary before any US security guarantees to Ukraine, Macron said, "No, that wasn't discussed at all. We're well away from that." Meanwhile, German Chancellor Friedrich Merz has compared Moscow's demand that Kyiv surrender Donbass to Washington being told to hand over Florida. Insisting Ukraine should not be forced to give up land, Merz after talks at the White House, told reporters, "The Russian demand that Kyiv give up the free parts of Donbass corresponds, to put it bluntly, to a proposal for the United States to have to give up Florida". Trump's land-swap proposal Trump, in the past, has talked about land swaps, but neither Ukraine nor Russia has shown interest in ceding land to the other for peace. However, in recent weeks, Trump has taken to reiterating his suggestion that the negotiations between Russia and Ukraine, which he claimed were nearing a breakthrough, could potentially include a "swapping of territories". On Friday (Aug 8), talking to reporters, he said, "I think we're getting very close," adding that the land he suggests be swapped has "been fought over for three and a half years". Subsequently, on Monday (Aug 11), he again insisted, "There'll be some land swapping going on". "I know that through Russia and through conversations with everybody, to the good of Ukraine," he said, adding that Russia had occupied some "very prime territory" but that "we're going to try to get some of that territory back".

Of late, US President Donald Trump has been saying Ukraine must concede land for peace. Did this come up during the Washington meeting between Trump, Zelensky, and EU leaders? All you need to know.

Trump promises Zelensky security guarantees, but will Ukraine be forced into land concessions? Here's what was said during vital Washington meet

Gold prices held steady on Monday after suffering their biggest weekly decline in months, as concerns grew that President Donald Trump’s tariff-driven inflation pressures in the US could delay the Federal Reserve’s rate-cutting cycle. According to Bloomberg, bullion traded around $3,340 an ounce in early Asian hours, down 0.1 per cent at 8:35 a.m. Singapore time. This follows a 1.8 per cent drop last week, the sharpest fall in three months, as signs of accelerating US wholesale inflation tempered expectations of near-term monetary easing.<h2>Tariff strains fuelling inflation</h2>Data released last week showed US wholesale inflation in July jumped at its fastest pace in three years, prompting traders to trim bets on a September Fed rate cut. Gold, which offers no yield, tends to lose appeal in a higher interest rate environment.&nbsp;Raphael Bostic, President of the Atlanta Federal Reserve, told Bloomberg after touring the southeastern US that “tariff strains are real” and that high borrowing costs are eroding corporate profits. Markets, however, still expect as many as two Fed cuts before year-end, though the timing remains uncertain.<h2>Geopolitical lens: Trump-Zelenskiy talks in focus</h2>Traders are also keeping a close watch on President Trump’s upcoming meeting with Ukrainian leader Volodymyr Zelenskiy. The talks are expected to define terms for a possible peace deal discussed during Trump’s meeting with Russian President Vladimir Putin in Alaska last week.&nbsp;As per Bloomberg, the outcome of these negotiations could sway gold sentiment, with a ceasefire potentially reducing haven demand, while prolonged conflict could spur more inflows into bullion.<h2>Gold consolidates near record highs</h2>Despite the recent pullback, gold has been consolidating just below its record high of $3,500 an ounce, reached in April. The metal remains up more than 25 per cent so far this year, buoyed by geopolitical risks, concerns over global growth, and central banks diversifying away from dollar-denominated assets.&nbsp;Silver and platinum were little changed on Monday, while palladium posted modest gains, Bloomberg reported. Meanwhile, the Bloomberg Dollar Spot Index was steady, offering little directional push for precious metals.&nbsp;With inflation fears intensifying and geopolitics still unsettled, gold’s trajectory may hinge on whether the Fed can balance market expectations with economic realities.&nbsp;(With inputs from the agencies)&nbsp;&nbsp;

Traders trimmed bets on September easing after wholesale prices surged, though markets still expect up to two Fed cuts by year end.

Gold prices held steady on Monday after suffering their biggest weekly decline in months, as concerns grew that President Donald Trump’s tariff-driven inflation pressures in the US could delay the Federal Reserve’s rate-cutting cycle. According to Bloomberg, bullion traded around $3,340 an ounce in early Asian hours, down 0.1 per cent at 8:35 a.m. Singapore time. This follows a 1.8 per cent drop last week, the sharpest fall in three months, as signs of accelerating US wholesale inflation tempered expectations of near-term monetary easing. Tariff strains fuelling inflation Data released last week showed US wholesale inflation in July jumped at its fastest pace in three years, prompting traders to trim bets on a September Fed rate cut. Gold, which offers no yield, tends to lose appeal in a higher interest rate environment. Raphael Bostic, President of the Atlanta Federal Reserve, told Bloomberg after touring the southeastern US that “tariff strains are real” and that high borrowing costs are eroding corporate profits. Markets, however, still expect as many as two Fed cuts before year-end, though the timing remains uncertain. Geopolitical lens: Trump-Zelenskiy talks in focus Traders are also keeping a close watch on President Trump’s upcoming meeting with Ukrainian leader Volodymyr Zelenskiy. The talks are expected to define terms for a possible peace deal discussed during Trump’s meeting with Russian President Vladimir Putin in Alaska last week. As per Bloomberg, the outcome of these negotiations could sway gold sentiment, with a ceasefire potentially reducing haven demand, while prolonged conflict could spur more inflows into bullion. Gold consolidates near record highs Despite the recent pullback, gold has been consolidating just below its record high of $3,500 an ounce, reached in April. The metal remains up more than 25 per cent so far this year, buoyed by geopolitical risks, concerns over global growth, and central banks diversifying away from dollar-denominated assets. Silver and platinum were little changed on Monday, while palladium posted modest gains, Bloomberg reported. Meanwhile, the Bloomberg Dollar Spot Index was steady, offering little directional push for precious metals. With inflation fears intensifying and geopolitics still unsettled, gold’s trajectory may hinge on whether the Fed can balance market expectations with economic realities. (With inputs from the agencies)

Gold steadied near $3,340 an ounce on Monday after its steepest weekly fall in three months, as Trump’s tariff-driven inflation risks clouded the outlook for US rate cuts.&nbsp;

Gold steadies after weekly drop as US inflation fears mount

The US dollar held firm on Monday as traders balanced geopolitical risks with expectations for monetary policy ahead of a crucial week that includes a meeting between President Donald Trump and Ukrainian President Volodymyr Zelenskiy, alongside the Federal Reserve’s Jackson Hole symposium.&nbsp;According to Reuters, currency movements were muted in early Asian trading, though the dollar regained some ground after last week’s slide. Against a basket of currencies, the greenback inched up to 97.85, having shed 0.4 per cent over the past week. The euro was little changed at $1.1705, while sterling ticked up 0.07 per cent to $1.3557. The dollar also rose 0.11 per cent against the yen to 147.34.<h2>Trump-Zelenskiy meeting in focus</h2>The main political event for markets on Monday is Trump’s meeting with Zelenskiy, joined by European leaders, as Washington pushes Kyiv to accept a rapid peace deal to end Europe’s deadliest war in eight decades.&nbsp;This follows Trump’s talks with Russian President Vladimir Putin in Alaska, where the two leaders signalled alignment on prioritising a peace agreement over a ceasefire. As per Reuters, the US president is expected to press Ukraine’s leadership towards concessions that may accelerate negotiations, though such moves remain contentious among European allies.<h2>Fed’s Jackson Hole symposium looms large</h2>Investors are equally focused on the Kansas City Federal Reserve’s annual Jackson Hole symposium, scheduled for August 21-23. Fed Chair Jerome Powell is set to deliver remarks on the US economic outlook and the central bank’s policy framework, a speech closely watched for signals on the pace of interest rate cuts.&nbsp;Markets are currently pricing in an 84 per cent chance of a quarter-point cut in September, down from 98 per cent a week ago. The shift came after stronger-than-expected data, including higher wholesale prices and robust July retail sales, dampened bets on a larger 50-basis-point reduction.&nbsp;“While the data don’t all point in the same direction, the US economy looks to be in okay shape in the third quarter,” Comerica Bank chief economist Bill Adams told Reuters. He added that the Fed is likely to cut rates by year-end, either in September or later in the year.&nbsp;Joseph Capurso, head of international and sustainable economics at the Commonwealth Bank of Australia, said Powell’s comments could test market expectations: “Given market pricing is very high for a rate cut in September, I think the risk is that Powell is hawkish, or is perceived to be hawkish, if he gives a balanced view of the US economy.”<h2>Asian currencies find support</h2>In Asia-Pacific trading, the Australian dollar rose 0.1 per cent to $0.65145, while the New Zealand dollar gained 0.15 per cent to $0.5934, both recovering slightly after losses last week. Japan’s yen remained under scrutiny after rare remarks from US Treasury Secretary Scott Bessent, who said the Bank of Japan was “behind the curve” on policy. Tokyo brushed aside the criticism, with Japan’s government reaffirming support for the central bank’s cautious stance.&nbsp;With geopolitics and central bank policy converging, markets face a tense week where headlines from Alaska to Wyoming could set the tone for currencies worldwide. (With inputs from the agencies)

Markets are bracing for a tense week where geopolitics and central bank policy collide. Trump’s push for a Ukraine peace deal, following his talks with Russian President Vladimir Putin, has sharpened political uncertainty in Europe.

The US dollar held firm on Monday as traders balanced geopolitical risks with expectations for monetary policy ahead of a crucial week that includes a meeting between President Donald Trump and Ukrainian President Volodymyr Zelenskiy, alongside the Federal Reserve’s Jackson Hole symposium. According to Reuters, currency movements were muted in early Asian trading, though the dollar regained some ground after last week’s slide. Against a basket of currencies, the greenback inched up to 97.85, having shed 0.4 per cent over the past week. The euro was little changed at $1.1705, while sterling ticked up 0.07 per cent to $1.3557. The dollar also rose 0.11 per cent against the yen to 147.34. Trump-Zelenskiy meeting in focus The main political event for markets on Monday is Trump’s meeting with Zelenskiy, joined by European leaders, as Washington pushes Kyiv to accept a rapid peace deal to end Europe’s deadliest war in eight decades. This follows Trump’s talks with Russian President Vladimir Putin in Alaska, where the two leaders signalled alignment on prioritising a peace agreement over a ceasefire. As per Reuters, the US president is expected to press Ukraine’s leadership towards concessions that may accelerate negotiations, though such moves remain contentious among European allies. Fed’s Jackson Hole symposium looms large Investors are equally focused on the Kansas City Federal Reserve’s annual Jackson Hole symposium, scheduled for August 21-23. Fed Chair Jerome Powell is set to deliver remarks on the US economic outlook and the central bank’s policy framework, a speech closely watched for signals on the pace of interest rate cuts. Markets are currently pricing in an 84 per cent chance of a quarter-point cut in September, down from 98 per cent a week ago. The shift came after stronger-than-expected data, including higher wholesale prices and robust July retail sales, dampened bets on a larger 50-basis-point reduction. “While the data don’t all point in the same direction, the US economy looks to be in okay shape in the third quarter,” Comerica Bank chief economist Bill Adams told Reuters. He added that the Fed is likely to cut rates by year-end, either in September or later in the year. Joseph Capurso, head of international and sustainable economics at the Commonwealth Bank of Australia, said Powell’s comments could test market expectations: “Given market pricing is very high for a rate cut in September, I think the risk is that Powell is hawkish, or is perceived to be hawkish, if he gives a balanced view of the US economy.” Asian currencies find support In Asia-Pacific trading, the Australian dollar rose 0.1 per cent to $0.65145, while the New Zealand dollar gained 0.15 per cent to $0.5934, both recovering slightly after losses last week. Japan’s yen remained under scrutiny after rare remarks from US Treasury Secretary Scott Bessent, who said the Bank of Japan was “behind the curve” on policy. Tokyo brushed aside the criticism, with Japan’s government reaffirming support for the central bank’s cautious stance. With geopolitics and central bank policy converging, markets face a tense week where headlines from Alaska to Wyoming could set the tone for currencies worldwide. (With inputs from the agencies)

The US dollar steadied on Monday as traders weighed geopolitical risks against monetary policy signals ahead of a pivotal week featuring President Donald Trump’s meeting with Ukrainian President Volodymyr Zelenskiy and the Federal Reserve’s Jackson Hole symposium.

Dollar steadies ahead of Trump-Zelenskiy meet and Fed’s Jackson Hole signals