Stock markets traded in a narrow range Tuesday and oil prices dipped after US President Donald Trump held what he called “very good” talks with Ukrainian and European leaders on ending the war.

Hopes for a breakthrough rose after Trump said he spoke by phone with Russian counterpart Vladimir Putin after hosting Ukrainian President Volodymyr Zelensky, German Chancellor Friedrich Merz and others at the White House.

“At the conclusion of the meetings, I called President Putin, and began the arrangements for a meeting, at a location to be determined, between President Putin and President Zelensky,” Trump said.

Zelensky said said he was ready for what would be his first face-to-face talks with Putin since Russia’s invasion nearly three and a half years ago.

Oil prices, which have been volat

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