Oil rises 2% and exceeds $ 74 after threats to Russia and Iran

The Brent WTI prize has fallen to $ 3.02 per barrel, its lowest value since July 2024.

Analysts said that when the Brent WTI prize falls below $ 4 per barrel, it does not make much economic sense for energy companies to send ships across the ocean to seek US oil, which should result in minors US exports.

Trump said on Sunday that he was “angry” at Russian President Vladimir Putin, and will impose a 25% to 50% secondary rates on Russian oil buyers if he thinks Moscow is disrupting Trump’s efforts to end Ukraine’s war.

“The threat (from Trump) of secondary tariffs on Russia and Iran’s oil is a factor that oil market participants are following, although he has indicated that he does not plan to introduce them for now,” said UBS analyst Giovanni Staunovo. “However, there is a growing risk of greater risk of supply in the future.”

Kremlin said on Monday that Russia and the US were working on ideas for a possible peace agreement in Ukraine.