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2025.08.0615:17:48UTC+00Oil Rises After 4-Day Decline

WTI crude oil futures rose to nearly $66 per barrel on Wednesday, breaking a four-day losing streak. The markets focused on the potential for new U.S. sanctions targeting Russian energy. President Trump hinted at possible secondary tariffs on countries that purchase Russian oil, which might include China following his recent announcement of forthcoming tariff increases on India. Within 24 hours, Trump planned to raise tariffs on Indian goods, aiming to pressure Russian President Vladimir Putin to end the conflict in Ukraine. In the meantime, U.S. oil inventory data from the EIA presented mixed signals. While nationwide crude stockpiles decreased by over 3 million barrels last week—more than anticipated—offering some support to prices, inventories at Cushing, Oklahoma, a vital storage and delivery point, saw an increase.

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