Benchmark Brent crude prices fell 53 cents to $67.52 per barrel at 5.04 a.m. ET, while U.S. West Texas Intermediate crude prices fell 0.8% to $63.65 per barrel.
If Brent prices hover around $50, many oil producers might struggle to provide the attractive capital returns that have pulled some investors back to the sector.
Benchmark Brent crude prices rose 0.7% to $66.23 per barrel, while U.S. West Texas Intermediate prices gained 0.7% to $62.80 per barrel at 2.32 a.m. ET.
President Donald Trump signaled his expectations for his summit with Russian President Vladimir Putin, stating he was prepared to walk away if a deal could not be reached.
The U.S. and Russia are pushing for a deal to pause the Ukraine war, with a Trump-Putin summit in Alaska set to discuss possible territorial concessions.
Benchmark Brent crude prices rose 1.4% to $68.57 per barrel at 4.59 a.m. ET, while U.S. West Texas Intermediate crude prices gained over $1 to $66.20 per barrel.
