NEW DELHI: Oil prices took a breather in Asian trade on Wednesday after the previous session’s spike of more than 3 percent, as investors awaited developments from US President Donald Trump’s tighter deadline for Russia to end the war in Ukraine.
Most-active Brent crude futures rose 1 cent, or 0.01 percent, to $71.69 a barrel by 8:33 Saudi time, while US West Texas Intermediate crude fell 2 cents, or 0.03 percent, to $69.19 a barrel.
The Brent crude September contract expiring on Wednesday was up 5 cents at $72.56 per barrel.
Both contracts had settled on Tuesday at their highest since June 20.
On Tuesday, Trump said he would start imposing measures on Russia, such as secondary tariffs of 100 percent on trading partners, if it did not make progress on ending the war within 10 to 12 days, moving up from an earlier 50-day deadline.
