Crude Oil Prices Slip on July 15 After Trump Sets Deadline for Russia to End Ukraine War

On July 15, 2025, crude oil prices declined as markets interpreted US President Donald Trump's 50-day ultimatum to Russia as a temporary reprieve from immediate sanctions. The softer approach soothed earlier supply concerns that had triggered price spikes.

Brent crude futures were down 29 cents, or 0.4%, at $68.92 a barrel by 03:42 GMT, while US West Texas Intermediate (WTI) crude fell 35 cents, or 0.5%, to $66.63. Both benchmarks had settled more than $1 lower in the previous session.

Trump’s Position on Russia Calms Supply Jitters

Trump's relatively moderate stance on Russian oil-related sanctions helped ease fears of a sudden supply crunch. His proposed 50-day grace period raised doubts over the likelihood of near-term penalties. Earlier gains sparked by potential sanctions reversed quickly.

Sanctions and Tariff Threats Could Still Reshape Oil Markets

At the same time, Trump reiterated new weapons support for Ukraine and hinted at additional trade tariffs. He said on Saturday that a 30% tariff on most EU and Mexican imports could take effect from August 1. This raises broader concerns about slowing global growth and weakened oil demand.

Read More: India Prepares for Oil Supply Shocks with New Emergency Reserves.

Conclusion

Oil prices pulled back on Tuesday as geopolitical tensions softened slightly following President Trump’s extended timeline on Russia. While immediate supply fears have eased, the broader risk environment remains uncertain amid ongoing trade and sanctions rhetoric. With robust demand forecasts and tightening inventories, price movements in the coming weeks will likely depend on concrete policy actions from Washington and OPEC updates.

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