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US and Russia initiate talks and raise oil price

Trump and Putin have agreed to discuss the possibility of a stabilization of the oil market. This makes the oil prices increase slightly.

Photo: Kevin Lamarque/Reuters/Ritzau Scanpix

Oil prices increased on Tuesday on the news that US President Donald Trump and his Russian counterpart, Vladimir Putin, have agreed to discuss the possibility of stabilizing the oil market, reports Reuters.

A barrel of European reference oil Brent cost USD 23.20 Tuesday morning CET, up from USD 22.23 on Monday at 5 p.m. CET. The US reference oil is trading at USD 21.34 against USD 20.29 on Monday.

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