Oil prices steadied on Thursday, with Brent crude holding above $67 a barrel after a 1.7% gain the previous session. The pause comes as traders weigh the risk of new Western sanctions on Russia.
Prices had spiked after former President Donald Trump condemned a Russian airspace violation, raising geopolitical tensions. He has proposed tariffs on major buyers of Russian oil, a plan the EU says it will support with significantly stronger sanctions.
Compare Top Forex brokers and start trading and investing with a trusted partner
This threat of supply disruption contrasts with bearish data. U.S. crude inventories rose by 3.9 million barrels last week, and analysts at Citigroup reaffirmed their forecast for prices to fall into the low $60s by year-end, citing a looming supply glut.
Subscribe for our newsletter
Get Forex brokers reviews, market insights, expert analytics and education material right into your inbox for free!