StanChart: Limited Russian Supply Cushion Even if Sanctions Ease

Oil prices have been trading in a narrow range over the past week, with Brent crude sinking to an intra-day low of $65.01 per barrel (bbl) on 13 August before rising to an intra-day high of $67.06/bbl on 15 August with momentum skewed to the downside thanks to a potential peace deal between Russia and Ukraine. Recent meetings between U.S. President Donald Trump, Russian President Vladimir Putin, Ukrainian President Volodymyr Zelenskyy and European leaders have weighed on prompt prices, pushing them below several key moving averages.  Trump…