Russia
Brent crude is up 0.4 percent so far this week, while WTI has declined by 1.4 percent
This decision follows eight cuts since June last year as trade relations with the U.S. remain unclear
The dollar index fell 0.06 percent to 97.15 on Thursday, a more than two-week low
Optimism over progress in tariff negotiations with the U.S. helped drive buying activity
U.S. tariffs on EU imports are expected to raise trade anxieties beyond the oil sectorÂ
Oil market's muted response reflects skepticism about the potential impact of the sanctions
U.S. crude inventories fell by 3.9 million barrels, exceeding expectations for a substantial decrease
Prices fluctuated as increased travel contends with concerns over U.S. tariffs and economic growth
Traders consider whether the U.S. will impose tariffs on nations trading with Russia.
Fed Chair Jerome Powell expects inflation to rise this summer due to ongoing tariffs
Brent crude futures reached $70.51, while WTI saw gains amid ongoing tariff uncertainty and sanctions
