Oil Prices Fall After Trump’s Russia Ultimatum

Oil prices fell following President Trump's announcement of new tariffs and a 50-day ultimatum for Russia to end its war in Ukraine, with WTI settling at $66.52 per barrel and Brent at $68.71. Initial fears of immediate sanctions on Russian energy exports led to market volatility, but prices declined as it became clear there would be no immediate supply disruptions. A stronger US dollar further pressured oil prices by making commodities more expensive for international buyers. OPEC+ reaffirmed plans to gradually increase production, contributing to a more bearish supply outlook. Investors are now awaiting US inventory data for further direction. Despite these factors, Goldman Sachs raised its oil price forecast for the second half of 2025, citing potential supply disruptions and declining inventories.