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

Business & Economy August 06, 18:37

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.

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