Oil prices fall as Trump sanctions waiver boosts Russian fuel exports

economictimes.indiatimes.com —

Oil prices fell Monday after President Donald Trump waived sanctions and tariffs on Russia, potentially boosting Russian fuel exports. Brent crude dropped $1.43 to $108.43 a barrel, while West Texas Intermediate fell 53 cents to $100.88. Trump signed an executive order Friday easing restrictions under the Graham Act, with Secretary of State Marco Rubio saying the president will assess the economic impact for up to 60 days. The move follows a US deal with Russian President Vladimir Putin to import diesel, which Ukrainian President Volodymyr Zelenskiy warned will hurt Ukraine. Brent had touched $110 on Friday, its highest since May, amid Middle East shipping threats that cut Gulf crude flows to about 8.5 million barrels per day last week from over 20 million the prior week. Egypt also offered to support Saudi Arabia against Yemen's Houthis.


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