2025-08-05 07:59
publication
2025-08-05 07:59
Oil prices on the Fuel Exchange in New York change slightly after 3 inheritance sessions, and investors evaluate the tightening of threats from the US President Donald Trump towards India for buying Russian oil – the brokers inform.
A barrel of West Texas Intermediate oil in IX supplies costs 66.28 USD at Nymex in New York, lower by 0.02 percent. and after a decline earlier by 0.35 percent
Brent on ICE on X is valued at USD 68.78 for a barrel, after an increase of 0.03 percent. and a discount earlier by 0.32 percent
Investors assess the tightening of threats from the US President Donald Trump towards India for buying Russian oil.
President Donald Trump said that India is buying a cheaper Russian raw material for their own needs, but they also sell it with profit and they do not care about the fate of the victims of war in Ukraine.
“India not only buy huge amounts of Russian oil, but also later sell a significant part of it on the free market with great profit. They don't care how many people in Ukraine die from the Russian war machine,” wrote Donald Trump on his Truth Social social networking site.
“For this reason, I will significantly raise the duty paid by India to the United States,” he warned.
The American president has already announced that he would impose on India a “punishment” for buying oil and armament from Russia.
On Friday, Donald Trump said that he “heard” that the Indian authorities gave up buying Russian raw material. A day later, however, a spokesman for the Ministry of Foreign Affairs announced that there was no change in this matter.
According to earlier announcements, the new American duties on goods from India are to be 25 % since Thursday, but Donald Trump's entries on Truth Social suggest that the tariffs will be higher.
The US president also announced that he would impose a “secondary duties” in the amount of 100 percent. for goods from countries buying oil and natural gas from Russia.
“There is a lot of talk in India about duties, but there is also a clear risk that other oil buyers from Russia will have to face this problem,” Warren Patterson, head of the raw material strategy at ING Groep NV.
“The more buyers of Russian oil will be covered by American duties, the harder it will be to cope with the oil market with potential interference,” he warned.
Meanwhile, the OPEC+ Alliance countries reached an agreement a few days ago on increasing oil production from September by 547 thousand. barrels a day.
Countries forming OPEC+ (Saudi Arabia, Russia, Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman) on Sunday decided to increase the extraction of raw material, and this in the markets arouses concerns about global oil overpugy at the time when the trade war conducted by the United for energy.
“The basic forecasts for the oil market are as pessimistic as possible,” said Patterson.
“The increase in oil supply from OPEC+ countries will cause the oil market to have a surplus of raw material from the fourth quarter 2025” – he added.
“The key and very real threat to such a situation is, however, the possibility of the US to introduce secondary duties on oil buyers from Russia” – Patterson emphasized once again.
(PAP Biznes)
AJ/ ASA/
