Brent crude oil futures fell to $67.1 per barrel on Tuesday, erasing earlier gains that had been driven by concerns over supply disruptions from Russia amid continued Ukrainian strikes on its energy infrastructure. Ukraine’s weekend attack forced the shutdown of a key processing unit at Russia's Kirishi refinery. This follows a separate strike on the Primorsk oil terminal last week. Reports also indicated that the EU is weighing sanctions on Indian and Chinese firms facilitating Russia’s oil trade as part of its next restrictions package. US Treasury Secretary Scott Bessent said Monday that Washington would not impose additional tariffs on China to halt its Russian oil purchases unless the EU hit China and India with steep duties of their own. In the Middle East, Israel launched a ground offensive in Gaza City on Monday, adding to supply risks. Elsewhere, traders geared up for an anticipated rate cut from the US Federal Reserve this week that could boost fuel demand.
Reprinted from tradingeconomics，the copyright all reserved by the original author.
Disclaimer: The views expressed are solely those of the author and do not represent the official position of Followme. Followme does not take responsibility for the accuracy, completeness, or reliability of the information provided and is not liable for any actions taken based on the content, unless explicitly stated in writing.
Leave Your Message Now