Oil Updates — prices ease as market weighs Trump tariff threats and US stock build
LONDON: Oil prices fell on Thursday as investors weighed the supply risks from US President Donald Trump’s push for a swift resolution to the war in Ukraine through more tariffs, while a surprise build in US crude stocks on Wednesday also weighed on prices.
Brent crude futures for September, set to expire on Thursday, declined by 61 cents, or 0.83 percent, to $72.63 a barrel by 3:26 p.m. Saudi time. US West Texas Intermediate crude for September fell 68 cents, or 0.97 percent, to $69.32.
Both benchmarks lost ground on Thursday after recording 1 percent gains on Wednesday.
“The market front-runs the implications of President Trump’s announcements before remembering that these policy intentions can turn on a dime if he can strike a deal,” said Harry Tchiliguirian at Onyx Capital Group.
