Oil climbs following Trump’s latest remarks

Brent crude’s price has rallied in response to US President Donald Trump’s recent comments suggesting a shortened deadline for Russia to resolve the Ukraine conflict.

IMGAE: Getty Images

In a press conference alongside the UK Prime Minister Keir Starmer in Scotland, Trump indicated that the window for a peace deal could be reduced from 50 days to just 10–12 days, stoking geopolitical risk premiums in the oil market.

“I’m going to make a new deadline of about 10 — 10 or 12 days from today,” Trump was quoted as saying by several media reports.

Trump had previously threatened to impose 100% tariffs on countries trading with Russia. The move was intended to pressure Moscow to end its conflict with Kyiv, now in its third year.

“Trump’s comments reignited fears that Russia’s oil flows would be impacted,” said ANZ Bank’s senior commodity strategist Daniel Hynes.

Trump’s remarks come days after the European Union (EU) adopted its 18th sanctions package against Russia.

“No deal could see Russia facing tougher US sanctions, along with the US [potentially] imposing secondary tariffs of 100% on trading partners that import Russian oil,” said two analysts from ING Bank.

If imposed, the secondary tariffs could cause “a significant shift” in the oil supply outlook for this year, the two analysts said.

"Such an action [more sanctions and secondary tariffs] would push prices significantly higher, erasing the expected surplus in the market through 2026,” the analysts added.

By Aparupa Mazumder

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