WTI crude futures eased under $64 a barrel Friday, trimming gains from a more than 2% rally in the prior session, as traders turned cautious ahead of high-stakes talks between US President Donald Trump and Russian President Vladimir Putin in Alaska.

The meeting seeks to end the Ukraine war, with Trump warning that failure could trigger “very severe consequences,” including tougher sanctions and secondary tariffs on major oil buyers such as China and India.

On the demand side, strong Japanese GDP data signaled increased consumption from one of Asia’s top importers, while rising expectations for a US rate cut in September continued to lend support to oil markets.