Washington, Sept. 11, 2025 – Oil steadied after a three-day gain as traders weighed Donald Trump’s latest comments regarding Russia and whether the US president will follow through with measures to punish Moscow for the Ukraine war.
Trump questioned Russia’s incursion into Polish airspace in a social media post on Wednesday, prompting oil futures to spike briefly as investors covered short positions.
Brent held above $67 a barrel on Thursday after closing 1.7% higher in the previous session, while West Texas Intermediate was near $63.
The post followed remarks by the US president to European Union officials that he’s willing to add new tariffs on India and China, the top buyers of Russian oil, in an effort to get Moscow to negotiate with Ukraine — but only if EU nations do so as well.
So far, Trump has only targeted New Delhi for the trade.
The European Union added to the focus on Russia, saying in a statement that the bloc with “significantly” ramp up sanctions against Moscow and its enablers to end the war in Ukraine. The EU called the violation of Polish airspace an “aggressive and reckless act” that represents “a serious escalation.”
“Western positions toward Russia are hardening and we may be surprised by some unpredictable moves,” said Mukesh Sahdev, head of commodity markets at Rystad Energy AS. “The market should brace for more volatility.”
Oil is still lower this year, with a looming glut toward the end of 2025 putting downward pressure on prices. US crude inventories rose by 3.9 million barrels last week, though they still remain below the five-year seasonal average, according to government data released on Wednesday.
The market is caught in a “tug-of-war between increasingly bearish fundamentals and heightened geopolitical risks,” according to a note from Citigroup Inc. The bank reaffirmed its forecasts for Brent to drop into the low $60s a barrel by year-end and into 2026. (Bloomberg)
