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Oil Slips as Trump Threatens Russia with Sanctions
The Business NG
|The BusinessNG
Crude oil prices edged lower on Tuesday as geopolitical tensions, rising supply, and softening demand continued to pressure market sentiment.
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Brent crude fell 0.7% to $68.71 per barrel after reaching $70.53 on Monday, before settling at $69.21. West Texas ntermediate (WTI) crude also dipped to $66.39 per barrel.
The decline follows U.S. President Donald Trump's warning that Washington will impose 100% secondary tariffs on Russia if a peace agreement to end the war in Ukraine is not achieved within 50 days. The announcement spooked markets already navigating a complex mix of supply and demand dynamics.
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