Crude oil prices are set to decline as Trump plans to meet Putin to discuss ending Ukraine’s war, potentially increasing Russian oil exports. IEA predicts a supply glut of 2.4 million bpd by 2026, adding to current concerns.

Brent crude is at $60.84, WTI at $57.29, both down 3%. Analysts cite Trump-Putin meeting as easing supply concerns. IEA revises demand growth to 700k bpd for 2026. EIA reports 3.5 million barrel inventory build, impacting market sentiment.

Trade tensions between US and China further dampen oil market sentiment. Concerns over global economic growth and oil demand arise. Oil bulls face challenges amidst geopolitical uncertainties and supply glut projections.

Read more at Yahoo Finance: Oil Prices Dip as Trump-Putin Summit Looms