Oil slips amid rumors more supplies could hit the market

Oil futures fell Monday as President Donald Trump and Russian President Vladimir Putin meet in Helsinki, while reports that Saudi Arabia and the U.S. could add more of the commodity to the market also pressured prices.

Ticker	Security	Last	Change	Change %
CLM24	Crude Oil	83.02	+0.21	+0.25%

During Trump and Putin’s meeting, oil production could be a topic of discussion. In June, Russia agreed – in coordination with OPEC – to boost oil output.

Also, as reported by Bloomberg, the Trump administration may be considering releasing some oil supplies from the nation’s Strategic Petroleum Reserve to ease gasoline prices ahead of the midterm elections.

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​Bloomberg also reported that Saudi Arabia has offered extra crude to some customers.

U.S. crude dropped 4.15% to $68.06 a barrel, its lowest price since June 21.