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Brent oil price rally slows on ICE as Trump imposes additional tariffs on India

The shift in dynamics followed an executive order signed by US President imposing additional tariffs of 25% on India for purchasing oil from Russia

MOSCOW, August 6. /TASS/. The price of Brent crude futures for October 2025 delivery on the London-based ICE exchange slowed its upward momentum, falling below $68 per barrel, according to trading data.

The shift in dynamics followed an executive order signed by US President Donald Trump imposing additional tariffs of 25% on India for purchasing oil from Russia.

As of 4:56 p.m. Moscow time, Brent had climbed to $69.18 per barrel, up 2.22%.

It then retreated, with Brent futures easing to $67.96 per barrel, a 0.41% gain, while West Texas Intermediate (WTI) futures for September 2025 delivery declined by 0.24% to $65.41 per barrel, according to ICE data as of 5:08 p.m. Moscow time.