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• Trump’s Russia Sanctions Deadline Raises Stakes for Oil Markets
  As a White House cease-fire deadline with Ukraine approaches, oil markets...
  As a White House cease-fire deadline with Ukraine approaches, oil markets are bracing for President Donald Trump’s next move on Russia. Investors and energy professionals are closely watching whether Trump will impose new sanctions or offer a temporary reprieve. A recent move to sharply raise tariffs on Indian oil imports—despite India being a key outlet for Russian crude—signals the administration’s willingness to escalate economic pressure.
  
  Crude prices initially dropped on Thursday on reports of a potential Trump-Putin summit, only to rebound when the White House denied progress, stating any meeting was contingent on Putin first engaging with Ukraine’s President Zelensky. Both WTI and Brent crude ended the day at two-month lows, reflecting market uncertainty. Brent crude futures settled down 46 cents, at $66.43 a barrel. U.S. West Texas Intermediate crude fell 47 cents to $63.88.
  
  Analysts, including RBC’s Helima Croft, doubt Moscow will offer meaningful concessions but suggest symbolic gestures could help the U.S. delay enforcement. The key concern remains whether the U.S. is ready to absorb higher oil prices to curb Russia’s war funding. India, previously aligned with U.S. policy, is now pushing back after being hit with secondary sanctions. Friday’s decision could reveal the full extent of Washington’s willingness to disrupt global crude flows in pursuit of geopolitical leverage.
  
  
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• Oil falls on announcement of Trump-Putin meeting
   (Reuters) - Oil prices dropped on Thursday for a sixth...

   (Reuters) - Oil prices dropped on Thursday for a sixth consecutive session after the Kremlin said Russian President Vladimir Putin would meet U.S. President Donald Trump in the coming days, raising expectations for a diplomatic end to the war in Ukraine.

  
  

  Brent crude futures settled down 46 cents, or 0.7%, at $66.43 a barrel. U.S. West Texas Intermediate crude fell 47 cents, or 0.7%, to $63.88.

  
  

  Both benchmarks slid about 1% on Wednesday, touching their lowest in eight weeks, after comments from Trump on progress in talks with Moscow.

  
  

  Kremlin aide Yuri Ushakov said on Thursday that Trump and Putin would meet in the coming days in what would be the first summit between leaders of the two countries since 2021.

  
  

  A White House official had previously said that Trump could meet Putin as soon as next week.

  
  

  The U.S., however, continued preparations to impose secondary sanctions on major buyers of Russian energy products to try to pressure Moscow to end the war in Ukraine.

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• Dow, S&P 500 end lower, Nasdaq ekes out record close as new tariffs take effect
  U.S. stocks closed mostly lower on Thursday as President...

  U.S. stocks closed mostly lower on Thursday as President Trump's new tariffs took hold, with the Dow booking its worst day in about a week.

  
  

  The Dow Jones Industrial Average fell about 224 points, or 0.5%, ending near 43,968, according to preliminary data. That was off the session's worst levels but still its worst daily percentage drop since Trump's Aug. 1 tariff deadline.

  
  

  The S&P 500 shed about 0.1%.

  
  

  The Nasdaq Composite ended about 0.4% higher, near 21,242, above its prior 21,178.58 record close on July 28.

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• Western Midstream to Buy Aris' Delaware Midstream Network for $1.5B
  Western Midstream (WES) will grow its water midstream network in the Delaware Basin...
  Western Midstream (WES) will grow its water midstream network in the Delaware Basin in a cash-and-equity deal to acquire Aris Water Solutions (ARIS) for $1.5 billion.
  
  The boards of both companies approved the deal, which is expected to close before the end of 2025. The companies priced the deal’s enterprise value at $2 billion before transaction costs.
  
  Western Midstream owns multiple oil, gas, and water midstream assets throughout the western U.S. The acquisition will combine Western’s 830-mile and Aris’ 790-mile produced water network in the Permian Basin. Aris’ assets will extend WES’ footprint into Lea and Eddy counties, New Mexico.
  
  
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• Trump may meet with Putin and Zelensky next week, White House says
  Yesterday, a Trump admin official floated the possibility of ...
  Yesterday, a Trump admin official floated the possibility of Trump meeting with Russian President Vladimir Putin in the near future, but stressed that neither a date nor a location had been set yet, and also said POTUS would be open to meeting with both Putin and Ukrainian President Volodymyr Zelensky. Later in the day, Trump told reporters that there was “a very good prospect” of a summit with the three leaders occurring. A new Gallup survey released this morning found that 7 in 10 Ukrainians surveyed in early July said their country should seek a negotiated settlement to end the war as soon as possible.
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