Oil prices were little changed on Tuesday, with West Texas Intermediate settling at about $63.17 a barrel and Brent at $66.12, leaving both benchmarks near two-month lows after last week’s 5% slide. Trading volumes were thin during the summer lull. Market attention is fixed on Friday’s meeting in Alaska between U.S. President Donald Trump and Russian President Vladimir Putin. Investors are weighing the chance that talks on Ukraine could produce a cease-fire and prompt Washington to ease sanctions on Russian crude, potentially releasing additional barrels onto the market. Analysts warned that any sanction relief would arrive just as inventories are already comfortable. Russian seaborne crude shipments slipped to 3.11 million barrels a day in the four weeks to Aug. 10, Bloomberg tanker-tracking data show, still within this year’s range and largely unaffected by threatened U.S. tariffs on India or China. European Union measures are rippling through Asian product trade. India’s Nayara Energy, partly owned by Rosneft, is on course to receive its lowest-ever monthly crude volumes, and its product exports have been disrupted. Even so, a cargo of Indian diesel is now en route to China—the first such shipment since 2021—highlighting how trade flows are adjusting ahead of the summit.