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Oil Prices Surge 2% Amid Trump’s Russia Warning

8/16/2025

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Summary

Story summary

Oil prices increased by 2% on Thursday, reaching a one-week high influenced by President Trump's warning on Russia and potential U.S. interest rate cuts.
Brent crude closed at $66.84; WTI settled at $63.96.
Traders expect a Federal Reserve rate cut next month amid mixed inflation data.
Norway's oil investments are projected to peak this year; Mexico's ex-Pemex CEO faces corruption charges.

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Story summary

Oil prices increased by 2% on Thursday, reaching a one-week high influenced by President Trump's warning on Russia and potential U.S. interest rate cuts.
Brent crude closed at $66.84; WTI settled at $63.96.
Traders expect a Federal Reserve rate cut next month amid mixed inflation data.
Norway's oil investments are projected to peak this year; Mexico's ex-Pemex CEO faces corruption charges.