Trump and Putin meeting could have big impact on energy prices
August 11, 2025
The Baker Hughes Rig count had oil rigs unchanged at a total of 410 oil rigs. Last year at this time oil rigs were at 485.
There seems to be a lot of hope riding on the meeting between President Trump and President Putin. The outcome will likely have a big impact on where energy prices go, and they could move in a big way. Trades will be keeping a close what on news of this meeting and then any news about the outcome.
John Kemp of John Kemp Energy says: Investors sold middle distillates last week at the fastest pace for four months as shortages stemming from Israel’s war with Iran eased and the United States imposed punitive tariffs on several major emerging markets. The US decision to impose tariffs on several trading partners, including India and Brazil, has reignited fears about a slowdown in global trade.
The market still has a lot of concerns on both the bullish and the bearish sides of the market. Bulls are worried about geopolitical events around the globe which could dispute supplies and rally prices. Bears are concerned about the economies of the world and if they struggle energy demand will decline.
The energy markets are mixed here this morning and trading in a very tight range as traders have plenty of issues to contend with. Current optimism on a peace deal between Russia and Ukraine has some upside bias. But this certainly needs to be viewed cautiously. These markets could be in for some volatility based on breaking news.