30 July 2025, Wednesday, 23:33
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Oil Soared

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Oil Soared

Prices reacted to possible further US sanctions against Russia.

Oil prices rose on July 14 as investors consider further U.S. sanctions against Russia, Reuters reported.

Brent crude futures rose 15 cents to $70.51 a barrel, extending a 2.51% gain on Friday. U.S. West Texas Intermediate crude futures rose to $68.59, up 14 cents from the previous session, after rising 2.82%.

U.S. President Donald Trump said Sunday he would provide Ukraine with Patriot surface-to-air missile systems. He is expected to make a "major announcement" on Russia on Monday.

Trump expressed frustration with Russian President Vladimir Putin over the lack of progress in ending the war in Ukraine and Russia's intensified bombing of Ukrainian cities.

In an effort to get Moscow to begin good-faith peace talks with Ukraine, a bipartisan U.S. bill that would impose sanctions on Russia gained momentum in Congress last week, but it still awaits Trump's support.

EU envoys are on the verge of agreeing on an 18-package

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