President Donald Trump is due to meet Friday in Alaska with Russian President Vladimir Putin. Crude-oil prices surged when Russia invaded Ukraine in 2022, and there is a potential for sizable moves depending on how Friday’s summit goes.

Russian President Vladimir Putin praised U.S. President Donald Trump’s efforts to end the war in Ukraine, more than three years after Moscow launched its invasion, as the two leaders prepared for a pivotal U.

Whether the U.S.-Russia summit can lead to a deal to produce peace in Ukraine more than 3 1/2 years after Moscow’s invasion remains to be seen.