Singapore — Oil markets were stable on Tuesday amid cautious optimism over the outcome of a summit between US President Donald Trump and North Korean leader Kim Jong-un in Singapore. Movements in crude markets were also limited ahead of a meeting between the Organisation of the Petroleum Exporting Countries (Opec) and some of its allies on June 22 that may determine the crude production policy of several major producers. Brent crude futures were trading at $76.45 a barrel at 3.55am GMT, little changed from their last close. US West Texas Intermediate (WTI) crude futures were at $66.16 a barrel, up 6c from their last settlement. Crude has been supported by healthy demand and voluntary production cuts led by Opec, but analysts said oil markets were also being driven by public policy events and statements. Trump and Kim on Tuesday met for a one-day summit in Singapore with the goal to narrow differences over how to end a nuclear standoff on the Korean peninsula, with Trump stating he h...
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