Rally recorded oil prices on Tuesday, due to the US trade agreement with the EU and the increase in US President Donald Trump’s pressure on Russia.
Future Brent (September contract) contracts rose 3.91% to $ 72.78 a barrel, while US Slow West Texas Intermediate (September contract) is trading at $ 69.40 with $ 4.03% rose.
On Tuesday, Trump said he would start imposing duties on Russia “in 10 days from today” if Moscow has not made progress towards the end of the war in Ukraine, Reuters notes.
“There is a 10 -day tough deadline,” said Phil Flynn, a senior analyst at Price Futures Group. “And there is a suspicion that other countries will follow us,” he added.
Also, on Tuesday, US Finance Minister Scott Bessed said he had told Chinese officials that, given US law on secondary -duty duties in Russian oil -subjects, China could face high duties if the Russian duties.
Source: Skai
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