LONDON: Oil prices steadied on Wednesday as investors awaited developments on US President Donald Trump’s tighter deadline for Russia to end the war in Ukraine and his tariff threats to countries that trade its oil.
The most active Brent crude futures were down 5 cents or about 0.1 percent, at $71.63 a barrel by 2:26 p.m. Saudi time while US West Texas Intermediate crude slipped 5 cents to $69.61.
The Brent crude September contract that expires on Wednesday was steady at $72.50.
Both contracts had fallen nearly 1 percent earlier in the day.
“Events in the last few days have moved the needle a touch more, but we still appear to be somewhat rangebound and testing the next resistance level,” said Rystad Energy analyst Janiv Shah.
