Oil steady after big gains on Trump’s Russia ultimatum

July 30, 2025

Oil prices saw a slight increase on Wednesday. This followed a rise of over 3% previously. Donald Trump gave Russia a deadline to end the war in Ukraine. He threatened tariffs. These tariffs could disrupt Russian oil exports. The US and EU averted a trade war. Talks are ongoing regarding Venezuela’s oil production. These factors are influencing the oil market.

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