14 Hrs
Source:
Sky News
Oil drops as Trump halts Russia sanctions
Oil prices declined at the start of Asian trading after U.S. President Donald Trump’s decision to lift sanctions and tariffs imposed on Russia, which could boost Russian fuel exports and impact the global oil market. Brent crude fell by 1.77% to $107.92 per barrel, and West Texas Intermediate dropped to $100.58, after both had previously experienced rises, amid concerns about how lifting sanctions might affect supplies and energy markets. This came after an agreement between Trump and Putin to export Russian diesel in quantities of up to 7.6 million barrels per month, alongside Ukrainian warnings that this move could harm Kyiv’s interests and increase market uncertainty.
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