Crude oil prices slipped as market downplayed immediate supply risk from Russia

Crude oil prices edged lower on Tuesday, 15 July 2025, as investors weighed the implications of the US’s newly announced plan to end the war in Ukraine. While the proposal added a layer of geopolitical uncertainty, the market interpreted it as lacking teeth in the near term, especially with energy infrastructure left untouched and a 50-day window before potential sanctions kick in.

Brent crude futures settled down 50 cents, or 0.7%, at $68.71 per barrel.

WTI crude lost 46 cents, or 0.7%, to finish at $66.52.

The weakness came amid a stronger US dollar, which made oil more expensive for holders of other currencies. But the main focus remained on Washington’s latest geopolitical play, which threatened to slap 100% tariffs on Russian goods if Moscow does not reach a ceasefire agreement with Ukraine within 50 days. Notably, the plan excludes immediate sanctions on Russia’s oil and gas exports—a key relief for energy markets.

“The absence of direct action against Russian crude flows essentially took the sting out of the announcement,” an analyst noted. “It may escalate later, but for now, supply fears are being dialled back.”

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