Oil prices retreated in early Asian trading on Monday after the weekend summit between U.S. President Donald Trump and Russian President Vladimir Putin ended without new penalties on Moscow’s crude exports, easing fears of supply disruptions. Brent crude for October settlement slipped roughly 0.4% to about $65.51 a barrel, while West Texas Intermediate opened 32 cents lower at $62.48. The pull-back extends Brent’s loss for the year to around 12%. Traders said the absence of additional sanctions or secondary tariffs on importers of Russian oil, which Trump indicated were on hold, removed an immediate threat to flows from the world’s second-largest producer. “The status quo remains largely intact for now,” said Helima Croft, head of commodity strategy at RBC Capital Markets. Market focus now shifts to talks in Washington later on Monday, where Trump will meet Ukrainian President Volodymyr Zelenskiy and several European leaders in a renewed push for a peace agreement. Investors are watching whether Kyiv will face pressure to accept territorial concessions, a development that could alter geopolitical risk premiums in energy markets. Equity futures were little changed, with S&P 500 contracts up about 0.1% and most Asian benchmarks set for modest gains, as participants also await Federal Reserve Chair Jerome Powell’s outlook at this week’s Jackson Hole symposium.