Oil Prices Dip but Stay on Track to Extend Last Week’s Gains

OilPrice · Irina Slav · last updated August 28, 2025 – 10:42 PM

Crude oil prices were set for another weekly rise after additional 25% tariffs on Indian exports to the United States kicked in on Wednesday, raising doubts about the supply of Russian crude. At the time of writing, Brent crude was trading at $68.17 per barrel, with West Texas Intermediate at $64.20 per barrel, both slightly down from Thursday’s close as the end of driving season in the United States comes and the seasonal fuel demand peak passes. Meanwhile, India has been buying more Russian oil ahead of the additional tariffs, and this…

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