Oil prices increased following comments from US President Donald Trump indicating he would bring forward the deadline for Russia to agree to a truce in Ukraine. This statement reignited concerns that escalating tensions between Moscow and the West could jeopardize the flow of crude supplies.
West Texas Intermediate (WTI) crude climbed by 2.4%, settling at its highest point in a week. Brent crude also saw a rise, surpassing $70 a barrel to conclude the session at its highest level in over two weeks.
The news, authored by Mia Gindis and Alex Longley, was initially published on July 27, 2025, at 7:39 PM EDT and updated on July 28, 2025, at 3:12 PM EDT. This uptick in prices reflects the market's sensitivity to geopolitical developments and their potential impact on global energy supplies.
