Friday, 10 Oct 2025
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
logo logo
  • World
  • Politics
  • Crime
  • Economy
  • Tech & Science
  • Sports
  • Entertainment
  • More
    • Education
    • Celebrities
    • Culture and Arts
    • Environment
    • Health and Wellness
    • Lifestyle
  • 🔥
  • Trump
  • VIDEO
  • House
  • White
  • ScienceAlert
  • Trumps
  • Watch
  • man
  • Health
  • Season
Font ResizerAa
American FocusAmerican Focus
Search
  • World
  • Politics
  • Crime
  • Economy
  • Tech & Science
  • Sports
  • Entertainment
  • More
    • Education
    • Celebrities
    • Culture and Arts
    • Environment
    • Health and Wellness
    • Lifestyle
Follow US
© 2024 americanfocus.online – All Rights Reserved.
American Focus > Blog > Economy > Crude Prices Retreat on Claims of Progress in Ending Russian-Ukraine War
Economy

Crude Prices Retreat on Claims of Progress in Ending Russian-Ukraine War

Last updated: August 7, 2025 11:50 pm
Share
Crude Prices Retreat on Claims of Progress in Ending Russian-Ukraine War
SHARE

Crude oil and gasoline prices experienced a volatile trading session on Wednesday, with September WTI crude oil closing down -1.24% and September RBOB gasoline closing down -0.05%. The day started with an early rally, but prices took a sharp turn lower after President Trump mentioned “great progress” in a meeting between US envoy Witkoff and Russian President Putin regarding the war in Ukraine. This led to long liquidation in crude oil as speculation arose that the US may not impose secondary sanctions on Russian energy exports.

Initially, crude prices surged after the dollar index fell to a 1-week low and Saudi Aramco raised the price for its Arab Light crude to Asian customers by $1 a barrel for September delivery. Additionally, the weekly EIA report released on Wednesday was bullish for crude prices.

President Trump’s threat of imposing new tariffs on countries buying Russian energy unless a ceasefire is reached by Friday added support to crude prices. JPMorgan Chase warned of the potential impact of triple-digit tariffs on Russian oil, which could lead to a supply shock due to the significant scale of Russian exports and limited OPEC spare capacity.

On the supply side, concerns about a global oil supply glut emerged after OPEC+ endorsed an additional 547,000 bpd increase in crude production for September 1. This decision aims to gradually restore a total of 2.2 million bpd of production by September 2026. The International Energy Agency warned of a surplus in the global crude oil market by Q4-2025, as OPEC July crude production fell slightly to 28.31 million bpd.

See also  The King of New York

The European Union’s approval of fresh sanctions on Russian oil contributed to the bearish sentiment in the market. These sanctions include cutting off more Russian banks from the international payments system SWIFT and imposing restrictions on Russian petroleum refined in other countries.

Despite the challenges, a decline in crude oil stored on tankers worldwide and the bullish EIA report provided some support to oil prices. The report showed a larger-than-expected drawdown in crude inventories, gasoline supplies, and distillate stockpiles, while US crude oil production slightly declined.

In conclusion, the oil market remains sensitive to geopolitical developments, supply dynamics, and demand uncertainties. Investors are closely monitoring the evolving situation to navigate through the volatility in crude oil and gasoline prices.

TAGGED:ClaimsCrudePricesProgressRetreatRussianUkraineWar
Share This Article
Twitter Email Copy Link Print
Previous Article Protect biodiversity ‘processes’ – not just pandas Protect biodiversity ‘processes’ – not just pandas
Next Article Rural Pennsylvania man kills neighbor and wounds responding troopers in gunfire ambush, police say Rural Pennsylvania man kills neighbor and wounds responding troopers in gunfire ambush, police say
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular Posts

Hailey Bieber Flips Off Kendall Jenner in Paintball Fun

Hailey Bieber and Kendall Jenner are not just friends, they are also partners in crime…

June 1, 2025

Train Dog to Fight: A beginner’s guide

Train Dog to Fight is a popular Roblox experience where players train their canine companions…

May 16, 2025

In Her Biggest Show Yet, Artist Manuela Solano Goes All-In on Pop Icons

During our Zoom call in late September, artist Manuela Solano appears before me in a…

October 3, 2025

How to Download the Android 16 Beta Now

Android 16 is the latest version of the Android operating system, set to be officially…

June 9, 2025

This parasite rips apart human cells and wears them as disguises

Microbiologists have made a breakthrough in understanding the elusive parasite, Entamoeba histolytica. This single-celled amoeba…

May 12, 2025

You Might Also Like

6 steps to choosing the right mortgage lender
Economy

6 steps to choosing the right mortgage lender

October 10, 2025
Is there an AI bubble? Financial institutions sound a warning
Economy

Is there an AI bubble? Financial institutions sound a warning

October 10, 2025
AMD Stock Is Soaring on an OpenAI Deal, But Analysts Still Think It Can Climb 35% From Here
Economy

AMD Stock Is Soaring on an OpenAI Deal, But Analysts Still Think It Can Climb 35% From Here

October 10, 2025
Zohran Mamdani Claims Colbert’s ‘Late Show’ Asked Him to Play a ‘Game’ Involving the ‘Genocide’ in Gaza: I ‘Couldn’t Believe What Was Happening’
Entertainment

Zohran Mamdani Claims Colbert’s ‘Late Show’ Asked Him to Play a ‘Game’ Involving the ‘Genocide’ in Gaza: I ‘Couldn’t Believe What Was Happening’

October 10, 2025
logo logo
Facebook Twitter Youtube

About US


Explore global affairs, political insights, and linguistic origins. Stay informed with our comprehensive coverage of world news, politics, and Lifestyle.

Top Categories
  • Crime
  • Environment
  • Sports
  • Tech and Science
Usefull Links
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA

© 2024 americanfocus.online –  All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?