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Oil prices ease as Russia-Ukraine truce offsets Venezuela worries
Business World Philippines
|March 27, 2025
NEW YORK — Oil prices diverged on Tuesday as a maritime and energy truce between Russia and Ukraine offset concerns about tighter global supply due to threatened US tariffs on countries buying Venezuelan production.
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Brent crude futures settled 2 cents higher or 0.03% at $73.02 a barrel. US West Texas Intermediate (WTI) crude fell 11 cents or 0.16% to $69.
The United States reached deals with Ukraine and Russia to pause attacks at sea and against energy targets, with Washington agreeing to push to lift some sanctions against Moscow.
Kyiv and Moscow both said they would rely on Washington to enforce the deals, while expressing skepticism that the other side would abide by them.
This story is from the March 27, 2025 edition of Business World Philippines.
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