Trump’s Tariff Threats and Russia Deadline Rattle Oil Markets

Crude prices dipped as former President Donald TRUMP escalated pressure on Russian oil buyers, shortening his ultimatum for peace negotiations to 10-12 days. Brent crude for October fell 17 cents to $71.52/barrel, while U.S. West Texas Intermediate dropped 11 cents to $69.12. The moves followed a recent rally to June highs.

The WHITE House is targeting China and India—Russia’s top oil clients—with tariff threats. Analysts estimate 2.3 million barrels/day of Russian exports could be at risk if India complies. China, however, shows no signs of bending to U.S. demands. Oil markets now price a $4-$5 supply-risk premium, contingent on Vladimir Putin’s next move.

Treasury officials reinforced the hardline stance abroad, signaling broader economic ramifications. The abrupt policy shift injects fresh volatility into energy markets already grappling with geopolitical uncertainty.