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Oil prices fall on Russian fuel supply hopes
U.S. President Donald Trump issued an executive order exempting Russia from sanctions and tariffs, which led to a significant decline in oil prices. Brent crude futures dropped by 1.9% to $107.80 per barrel, while U.S. crude futures fell by 1.2% to $100.18 per barrel. This came after an agreement between Trump and Russia to increase diesel exports, potentially boosting Russian fuel shipments. However, this move raised concerns among Ukraine and economic circles about its negative impact on the international market. On the other hand, tensions continue regarding political and security conditions in the Gulf region, with ongoing conflicts in Ukraine and Iran, raising fears of broader economic repercussions.
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