Doha: Oil prices stabilized Monday after falling more than 4 percent last week, as investors awaited the outcome of talks between the US and Russia this week regarding the war in Ukraine. Brent crude futures rose 12 cents, or 0.18 percent, to $66.71 a barrel. West Texas Intermediate (WTI) crude futures also rose 19 cents, or 0.3 percent, to $64.07 a barrel.

According to Qatar News Agency, US President Donald Trump announced last Friday that he would meet with his Russian counterpart, Vladimir Putin, on August 15 in Alaska to negotiate an end to the war in Ukraine. The anticipation of this meeting has influenced the oil markets, as investors closely monitor geopolitical developments that could affect supply and demand dynamics. The talks are expected to address key issues surrounding the conflict, with hopes of reaching a resolution that could stabilize the region and, by extension, the global oil markets.