Bloomberg is reporting that the Trump administration is reportedly trying to sanction Moscow’s covert fleet of oil tankers and likewise sanction a number of entities that allow them to function.
Earlier as we speak, Trump enhance within the is tariffs to 50% (up 25%) as a penalty for importing Russian oil. The administration is trying to strangle Russia through oil gross sales.
That has helped to push oil up modestly. The value is presently up about $0.60 at $65.75, however the low worth as we speak close to $65.11 remained above its 100 day shifting common at $64.96. The value would want to maneuver under that stage to extend the bearish bias from a technical perspective.
In different associated information, Trump is anticipated to talk to Ukrainian Pres. Zelenskiy after WH Witkoff spoke with Russian Pres. Putin. Kremlin aide Ushakov mentioned that talks with U.S. Particular Envoy Witkoff had been helpful and constructive. From Russia’s aspect, they despatched “alerts” and have “acquired some alerts” from U.S. President Trump. The discussions coated the Ukraine disaster and the prospects for creating the Russia-U.S. partnership.
Trump mentioned final week, he has little interest in talking with Putin (who is just not listening).The tact has now switched to squeezing vs massaging his “good friend”.
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