Oil prices extended their rebound on Friday, with Brent crude edging up 0.2% to about $67 a barrel and West Texas Intermediate adding a similar percentage to $64.10, reaching the highest levels in a week after recovering from two-month lows earlier this week. Traders are positioning ahead of Friday’s meeting between U.S. President Donald Trump and Russian President Vladimir Putin in Alaska, where talks on a Ukraine cease-fire and potential energy cooperation could reshape sanctions on Russian crude. The prospect of looser restrictions threatens to swell global supplies and pressure prices, while tougher measures could tighten the market. Sentiment also drew support from Japan’s stronger-than-expected second-quarter growth—annualised 1.0% versus a 0.4% consensus—which suggested resilient demand from one of the world’s top importers. Expectations that U.S. interest rates will stay higher for longer, however, capped further gains in futures. Brent and WTI had dipped below $66 and $63 respectively earlier in the week amid concern over rising inventories and the end of summer demand, before climbing roughly 1.6% and 1.7% on Thursday on renewed geopolitical risk premiums tied to the summit.