Oil rose after US President Donald Trump said he would move up the deadline...
Oil rose after US President Donald Trump said he would move up the deadline for Russia to agree to a truce in Ukraine, reigniting concerns that tensions between Moscow and the West will threaten flows of crude supplies.
West Texas Intermediate climbed by $1.55 to settle at $66.71 per barrel, the highest in a week, while Brent climbed $1.60, at $70.04 a barrel to end the session at the highest level in more than two weeks.
Trump said he would impose a new deadline of 10-12 days for Russian leader Vladimir Putin to reach a truce with Ukraine, after previously threatening Moscow with 100% “secondary tariffs” to create pressure toward a peace deal.
U.S. stocks end mixed ahead of Fed decision, key earnings and economic data
U.S. stocks finished mostly higher, with the S&P...
U.S. stocks finished mostly higher, with the S&P 500 and Nasdaq scoring records after the U.S. and European Union struck a trade deal and investors looked ahead to earnings reports from several Big Tech companies, the Federal Reserve’s interest-rate decision and upcoming inflation and employment data due this week.
The Dow Jones Industrial Average ended roughly 0.1% lower, according to preliminary closing data by FactSet.
The S&P 500 closed less than 0.1% higher, marking a sixth straight record close, if preliminary figures hold up. That matches the index's longest run of record finishes since a six-day run that ended on July 10, 2024, according to Dow Jones Market Data.
The Nasdaq Composite finished about 0.3% higher at a record close, marking its fourth straight daily gain.
Crude prices remain firm near $70 per barrel despite mounting warnings...
Crude prices remain firm near $70 per barrel despite mounting warnings of a supply glut later this year and into 2026, as strong seasonal demand and low inventories continue to support the market. The International Energy Agency and the Energy Information Administration both project surpluses of around 2 million barrels per day, driven by OPEC+'s rollbacks of supply cuts and increased production from non-OPEC sources.
US Gulf Coast refiners adjust crude sourcing strategies
More Middle Eastern and...
More Middle Eastern and South American crude is flowing to the US Gulf Coast as refiners in the region seek alternatives to scarce Venezuelan and Mexican barrels, ship tracking data show. Imports from South American countries, excluding Venezuela, climbed to a five-year high in July, while Middle Eastern volumes to the Gulf Coast reached 212,000 barrels per day, the most since January.
