Crude oil fell in morning trading as the market awaits the meeting between Trump and Putin.

Jin10 reported on August 11 that crude oil prices fell in early trading as traders awaited Trump’s meeting with Putin later this week in Alaska. Analysts at ING stated: "The deadline set by Trump for Russia to reach a peace protocol with Ukraine has passed, and the U.S. has not imposed more severe sanctions on Moscow. This could be one of the reasons for the recent weakness in crude oil prices, with Brent crude currently at its lowest level since early June." ING noted that the latest holdings data shows that despite the supply risks posed by sanctions threats, speculators have still reduced their bets on rising Brent crude prices. Additionally, due to Trump imposing tariffs on dozens of trading partners, which is expected to exert pressure on the economy, concerns over the global demand outlook have also intensified the downward pressure on oil prices.