India, Aug. 12 -- Crude oil prices slumped on Tuesday ahead of an upcoming meeting between US and Russian presidents in Alaska, coming Friday, as the outcome is expected to heavily push or pull oil prices.
WTI Crude Oil for September delivery was last seen trading down by $0.88 (1.38%) at $63.08 per barrel.
Hours before the previous deadline given to China to strike a trade deal with the US was about to expire yesterday, US President Donald Trump signed an executive order extending the trade truce for another 90 days (until November 10).
This lengthy pause, given for the second time, gives both countries enough time to work out the differences in agreements.
As high tariffs result in slowdown in global growth and reduce fuel demand resu...