Oil prices fall 2% after Trump waives Russia sanctions, easing supply fears

economictimes.indiatimes.com —

Oil prices fell about 2% on Monday, with Brent crude dropping to $108.06 a barrel, after President Donald Trump waived sanctions and tariffs on Russia, potentially boosting Russian fuel exports. The move follows a Trump-Putin deal to export diesel to the US, though Secretary of State Marco Rubio said the waiver's economic impact will be assessed for up to 60 days. Ukrainian President Zelenskiy said the actions would hurt Ukraine. Prices had hit their highest since May on Friday amid Middle East shipping attacks, which cut Gulf crude flows to 8.5 million barrels per day. Goldman Sachs warned prices could reach $120 if attacks escalate, or fall to $80 if exports normalize.


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