Oil falls after Trump eases Russian sanctions
By the AFREEQUE newsroom, based on MyJoyOnline
Oil prices fell after the United States suspended sanctions targeting Russia, with Brent losing 1.77% to $107.92 a barrel. Washington also expects Russian diesel exports to reach 2.3 million barrels this month and then 7.6 million a month, according to Reuters.
Oil prices fell on Monday after US President Donald Trump lifted sanctions and tariffs targeting Russia, a measure that could increase Russian fuel exports, MyJoyOnline reports. At around 2.27am GMT, Brent was down $1.94, or 1.77%, at $107.92 a barrel, while US West Texas Intermediate (WTI) crude fell 83 cents, or 0.82%, to $100.58.
The two benchmarks had reached their highest levels in several months on Friday: Brent’s highest since 19 May and WTI’s since 17 September. Donald Trump signed an executive order on Friday lifting sanctions and tariffs provided for under the Graham Act, which he had enacted the previous month under pressure from lawmakers seeking to force Moscow to take action over the war in Ukraine.
Summary produced with the help of artificial intelligence tools, under AFREEQUE’s editorial responsibility.
