Nigerian crude remained steady at $73 after a three-day decline, as concerns grew over Russian supply risks, further intensified by US President Donald Trump’s escalating threats to penalize India for purchasing crude from Moscow.
Brent fell below $69 a barrel after losing over 6% in the past three sessions, while West Texas Intermediate hovered near $66 a barrel.
U.S President’s comments about “substantially raising” tariffs on exported Indian goods due to Russian oil imports were an attempt to pressure Moscow into complying with a ceasefire concerning the Ukraine conflict, which drew strong opposition from New Delhi.