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Oil Steadies as Trump Threatens India for Taking Russian Crude

Bloomberg.com · last updated

Oil steadied, after a three-day drop, as investors weighed the impact of risks to Russian supplies, with US President Donald Trump stepping up his threat to penalize India for buying Moscow’s crude.

Brent traded below $69 a barrel after shedding more than 6% over the previous three sessions, while West Texas Intermediate was near $66. Trump said he would be “substantially raising” the tariff on Indian exports to the US over the nation’s purchases of Russian oil as part of a bid to force Moscow to agree a truce in Ukraine. New Delhi slammed the move as unjustified.

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