Oil Slips as Trump's Sanction Waiver May Lead to More Russian Fuel Supplies, Money News
Brent crude fell 1.3% as investors weighed the waiver against tighter Gulf shipping flows and a possible rise in Russian fuel exports.
- On Monday, oil prices slipped after President Donald Trump signed an executive order on Friday waiving sanctions and tariffs on Russia, potentially increasing fuel exports to the United States.
- The sanctions removal follows an agreement between Trump and Russian President Vladimir Putin to supply about 2.3 million barrels of diesel this month to alleviate record high fuel costs at the pump.
- Brent crude futures fell $1.43 to $108.43 a barrel while West Texas Intermediate dropped 0.52 per cent to $100.88; Secretary of State Marco Rubio said the president will use up to 60 days to assess the waiver's economic impact.
- Ukrainian President Volodymyr Zelenskiy criticized the administration's decision, stating that these United States actions will hurt Ukraine amid its ongoing conflict with Russia.
- Meanwhile, security threats in the Middle East persist as intensified attacks by Yemen's Iran-allied Houthis cut Gulf crude flows to about 8.5 million barrels per day, prompting Egypt to offer support to Saudi Arabia.
20 Articles
20 Articles
Oil prices fell from a 5-month high <p>Brent fell to $107.88, WTI to $100.25 per barrel. Investors estimate the possible growth of Russian fuel exports.</p>
Oil prices fell on Monday after U.S. President Donald Trump exempted Russia from sanctions and tariffs that could have boosted Russian fuel exports. Brent crude futures fell $1.94, or 1.77%, to $107.92 a barrel by 0227 GMT, after closing at their highest level since May 19 on Friday. U.S. West Texas Intermediate crude was at $100.58 a barrel, down 83 cents, or 0.82%, after closing at its highest level since September 17 on Friday. Brent briefly …
Oil slips as Trump's sanction waiver may lead to more Russian fuel supplies, Money News
SINGAPORE — Oil prices slipped on Monday (Oct 19) after US President Donald Trump waived sanctions and tariffs on Russia that may lead to more Russian fuel exports.Brent crude futures fell US$1.43 (S$1.83), or 1.30 per cent, to US$108.43 a barrel by 11.40pm GMT (Saturday 7.40am, SGT) after settling at its highest since May 19 on Friday.US West Texas Intermediate...
Oil Prices Slip as Trump-Putin Diesel Deal Raises Supply Hopes
Crude oil prices began the week with a dip on traders' expectations of a boost in diesel fuel supply under the deal agreed by the presidents of Russia and the United States. However, the dip in oil benchmarks came from a much higher point than a week ago, leaving prices palpably elevated. At the time of writing, Brent crude was changing hands for $107.84 per barrel, with West Texas Intermediate trading at $100.29 per barrel. This compares to $10…
Oil and Geopolitics in Focus After Turbulent Weekend - ActionForex
In commodities, Brent crude opened lower this morning, trading around USD 108/bbl after reaching around USD 109/bbl on Friday.The decline followed President Trump's waiver of key sanctions and tariffs on Russia, potentially allowing higher fuel exports. Still, supply risks remained elevated, as Ukraine struck Russian energy infrastructure on Sunday and attacks on vessels near Hormuz continued to threaten Gulf crude flows.
Oil prices fall from five-month highs to $107.9 as U.S. eases Russia sanctions
Oil prices fell on Monday after reaching five-month highs in the previous session, as investors took profits following U.S. President Donald Trump’s decision to waive key sanctions and tariffs on Russia, potentially allowing more Russian fuel exports. As of 5:18 GMT, Brent crude futures dropped $1.95, or 1.77 percent, to $107.9 a barrel, after settling […]
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