
Washington and Moscow are aiming to reach a deal to halt the war in Ukraine
Oil ticks down on reports of US-Russia deal

Oil prices edged lower on Friday and were poised for the steepest weekly losses since late June on reports of a deal between U.S. and Russia, and a tariff-hit economic outlook.
Brent crude futures were down 7 cents at $66.36 a barrel by 11:18 a.m ET (1518 GMT). U.S. West Texas Intermediate crude futures eased 21 cents, or 0.3%, to $63.67.
Washington and Moscow are aiming to reach a deal to halt the war in Ukraine that would lock in Russia's occupation of territory seized during its military invasion, Bloomberg News reported on Friday.
U.S. and Russian officials are working towards an agreement on territories for a planned summit meeting between U.S. President Donald Trump and his Russian counterpart Vladimir Putin as early as next week, the report said, citing people familiar with the matter.
The potential meeting raises expectations of a diplomatic end to the war in Ukraine, which could lead to eased sanctions on Russia, and come as trade tensions have been on the rise between Trump and buyers of Russian oil.
This week, Trump threatened to increase tariffs on India if it kept buying Russian oil. Trump also said China, the largest buyer of Russian crude, could be hit with tariffs similar to those levied against Indian imports.