Oil Falls as U.S. President's 50-Day Deadline for Russia Eases Supply Fears

PUKMEDIA

Oil field.

Oil prices declined on Tuesday, 15 July 2025, following US President Donald Trump’s announcement of a more lenient 50-day deadline for Russia to end the conflict in Ukraine and avert sanctions, which alleviated immediate concerns over supply.

Reuters reported that Brent crude futures dropped 29 cents, or 0.4 per cent, to $68.92 a barrel by 03:42 GMT, while US West Texas Intermediate crude futures fell 35 cents, or 0.5 per cent, to $66.63. Both benchmarks had closed more than $1 lower during the previous session.

According to Reuters, Priyanka Sachdeva, senior market analyst at Phillip Nova, said that “Trump’s milder stance on sanctions over Russian oil eased fears of a supply crunch, while his tariff plan continues to exert economic pressures.”

Oil prices initially rose on the prospect of possible sanctions but subsequently lost gains as the 50-day deadline raised hopes sanctions might be avoided, and traders pondered whether the US would impose significant tariffs on countries continuing to trade with Russia.



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