Oil prices continue to rise due to Israeli attack and Trump’s sanctions announcement
10 September 2025 09:24
World oil prices rose on Wednesday following Israel’s attack on the Hamas leadership in Qatar and US President Donald Trump’s calls for Europe to impose duties on Russian oil. However, weak market prospects limited growth, "Komersant Ukrainian" reports citing Reuters.
According to OilPrice.com, the price of Brent crude oil rose by 63 cents, or 0.95%, to $67.02 per barrel as of 09:11 Kyiv time. U.S. WTI crude rose 63 cents, or 1.01%, to $63.26 per barrel.
Israel’s attack on Qatar
During the previous trading session, prices closed up 0.6% after Israel reported an attack on the Hamas leadership in Doha. The Prime Minister of Qatar said that this could disrupt peace talks between Hamas and Israel.
The oil market’s reaction was relatively restrained due to the overall weakness of the market. Both benchmark grades rose by almost 2% immediately after the attack, but then declined after the US told Doha that this would not happen again on its territory.
“The moderate reaction of crude oil prices to this news, as well as skepticism about US President Trump’s statements about possible tightening of sanctions against Russian oil, leaves crude oil vulnerable to lower prices,”
– said Tony Sycamore, market analyst at IG, in a commentary.
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Pressure on Russia
Trump has called on the European Union to impose 100% tariffs on China and India as a strategy to put pressure on Russian President Vladimir Putin, sources said.
China and India are the main buyers of Russian oil, which, among other things, has helped to support the Russian treasury since the full-scale invasion of Ukraine in 2022.
“The extension of secondary tariffs to other major buyers, such as China, could disrupt Russian crude oil exports and limit global supplies, which is a positive signal for [rising] oil prices. However, uncertainty remains as to how far the administration will go, as aggressive action may conflict with efforts to control inflation and influence the Federal Reserve to lower interest rates,”
– LSEG analysts noted.
Long-term downward trend
Traders expect the Federal Reserve to cut interest rates at its next weekly meeting, which will stimulate economic activity and oil demand.
However, fundamentals remain weak. The US Energy Information Administration has warned that global crude oil prices will be under significant pressure in the coming months due to rising inventories as OPEC increases production.
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