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Oil Heads for 5% Weekly Slump With Russian Supplies in Focus

Bloomberg.com · last updated

Oil headed for its longest losing run since 2021, as traders judged that US efforts to end the war in Ukraine would not impact overall supplies, even as Washington penalized India for taking Moscow’s crude.

Brent fell toward $66 a barrel, down for a seventh straight session, while West Texas Intermediate was below $64. US President Donald Trump — who’d set a deadline of Friday for Moscow to agree to a truce — said that he’d be willing to meet with Vladimir Putin, even if the Russian leader hasn’t yet agreed to sit down with Ukrainian President Volodymyr Zelenskiy.

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