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Oil prices eased on Friday as traders awaited talks between U.S. President Donald Trump and Russian leader Vladimir Putin, which could lead to an easing of the sanctions imposed on Moscow over the war in Ukraine.

Oil prices on Thursday looked to recoup their losses from the previous session and then some, as President Donald Trump prepares for what Phil Flynn, senior analyst at the Price Futures Group referred to as a “pivotal encounter” with Russian President Vladmir Putin on Friday in Alaska.