Sunday, June 22, 2025

WTI Jumps 3% as Trump Targets Russian Oil Buyers With Tariff Plan

Shutterstock

Global oil prices surged on the last day of March.

Brent crude, the international oil benchmark, which had reversed to a decline after eight trading days, jumped 1.5%, while West Texas Intermediate (WTI), the U.S. oil benchmark, surged 3%.

U.S. President Donald Trump, mediating ceasefire talks in the Ukraine conflict, put pressure on Russia, causing oil prices to jump.

He warned of potential 25-50% tariffs on nations purchasing Russian oil to pressure Russia, which has shown reluctance towards a ceasefire.

Consequently, Brent crude for May delivery rose $1.11 (1.51%) to $74.74 per barrel. WTI for May delivery closed at $71.48 per barrel, surging $2.12 (3.06%).

Hot this week

Japan’s Steel Giant Takes Over US Steel: What It Means for American Workers

Nippon Steel acquires U.S. Steel for $14.1 billion, ensuring U.S. government oversight and maintaining its headquarters in Pittsburgh.

Trump’s Ultimatum to Iran Jolts Oil Prices into Unsteady Climb

Oil prices rose slightly as markets reacted to Trump's ultimatum to Iran, with WTI and Brent crude experiencing minor gains.

Wall Street Wobbles After Powell Says No Rush on Rate Cuts

U.S. markets closed mixed after the Fed maintained interest rates, with tech stocks like Tesla and Nvidia gaining amid cautious investor sentiment.

Apple Joins Google in Map Export Request, Vows Flexible Compliance

Apple seeks South Korean approval to export high-precision map data, offering to accommodate government demands unlike Google.

Wall Street Takes a Dive as Tensions Rise Over Iran

The New York stock market fell sharply due to rising tensions in the Middle East and declines in major tech and solar stocks.

Topics

Japan’s Steel Giant Takes Over US Steel: What It Means for American Workers

Nippon Steel acquires U.S. Steel for $14.1 billion, ensuring U.S. government oversight and maintaining its headquarters in Pittsburgh.

Trump’s Ultimatum to Iran Jolts Oil Prices into Unsteady Climb

Oil prices rose slightly as markets reacted to Trump's ultimatum to Iran, with WTI and Brent crude experiencing minor gains.

Wall Street Wobbles After Powell Says No Rush on Rate Cuts

U.S. markets closed mixed after the Fed maintained interest rates, with tech stocks like Tesla and Nvidia gaining amid cautious investor sentiment.

Apple Joins Google in Map Export Request, Vows Flexible Compliance

Apple seeks South Korean approval to export high-precision map data, offering to accommodate government demands unlike Google.

Wall Street Takes a Dive as Tensions Rise Over Iran

The New York stock market fell sharply due to rising tensions in the Middle East and declines in major tech and solar stocks.

Brent and WTI Climb Following Heightened Concerns Over Iran Conflict

Oil prices surged amid rising tensions in the Middle East, with fears of disruptions to Iranian oil exports following Trump's return.

Why Stablecoins Struggle to Compete with Credit Cards in America

Stablecoins lack consumer incentives compared to credit cards, limiting adoption despite potential in specific payment areas.

Wall Street Bounces Back: Stocks Rally Amid Iran-Israel Ceasefire Hopes

US stock indices rebounded on the 16th as reports emerged of Iran seeking negotiations amidst ongoing conflicts.

Related Articles