Russia: Current oil market situation not in interest of Russia and US

There is an understanding between Russia and the US that the current oil market situation is not in the interest of their countries, a Kremlin spokesman noted summarizing Russian President Putin and US President Trump's talks from Monday.

"Putin and Trump agreed that there should be a consultation on the oil market," the spokesman added declined to comment whether Putin and Trump discussed Saudi Arabia during their phone call.

Market reaction

The barrel of West Texas Intermediate (WTI), which touched a fresh daily high of $21.86 in the last hour, was last seen trading at $21.15, still adding 4.5% on the day.