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2025-07-31 23:01:39
Oil prices fell after three days of gains. Oil prices fell after three days of gains, driven by a series of trade deals reached by the United States before Friday's tariff deadline and the threat of sanctions against Russia and its oil buyers. Neil Crosby of Spartan Commodities noted in a report that if high tariffs were imposed on Russian oil buyers such as India, the market reaction would "undoubtedly be strong." He said that while these threats might not be fully realized or last long, the displacement of Russian crude oil would be primarily concentrated in the Dubai market, with increased demand for West African crude, WTI crude, and "possibly some other European grades." WTI crude fell 0.7% to $69.53 a barrel. September Brent crude fell 0.8% to $72.68 a barrel. (Dow Jones)
