{"id":17734,"date":"2025-08-09T17:36:00","date_gmt":"2025-08-09T21:36:00","guid":{"rendered":"https:\/\/sharewatch.com\/wp\/2025\/08\/09\/crude-prices-supported-by-doubts-about-ukrainian-peace-plan\/"},"modified":"2025-08-09T17:36:00","modified_gmt":"2025-08-09T21:36:00","slug":"crude-prices-supported-by-doubts-about-ukrainian-peace-plan","status":"publish","type":"post","link":"https:\/\/sharewatch.com\/wp\/2025\/08\/09\/crude-prices-supported-by-doubts-about-ukrainian-peace-plan\/","title":{"rendered":"Crude Prices Supported by Doubts About Ukrainian Peace Plan"},"content":{"rendered":"<div class=\"layout__region nsdq-l-grid__item syndicated-article-body\">\n<section class=\"jupiter22-c-article-body\">\n<div class=\"body\">\n<div class=\"body__content\">\n<p>September WTI crude oil (CLU25) on Friday closed unchanged, and September RBOB gasoline (RBU25) closed up +0.086 (+0.41%).<\/p>\n<p>Crude oil and gasoline prices on Friday settled mixed. \u00a0Crude finished the session little changed but had support from doubts about whether a US peace plan to end the Russian-Ukraine war will gain Ukrainian or international support. \u00a0Crude prices also garnered support from a weaker dollar and a rally in stocks, which showed confidence in the economic outlook.<\/p>\n<div class=\"ads__inline\">\n<div id=\"js-dfp-tag-XIY\"  class=\"btf-bodymidpagetwothirdswidth-1\">          <script type=\"text\/javascript\">         googletag.cmd.push(function() {             \/\/ Check if ID matches ID in the window.adsList array before calling googletag.display             function isAdInAdsList(id) {             for (var i = 0; i < window.adsList.length; i++) {                 if (window.adsList[i].id === id) {                     return true;                 }             }             return false;         }         if (isAdInAdsList('js-dfp-tag-XIY')) {             googletag.display('js-dfp-tag-XIY');         }         });     <\/script> <\/div>\n<\/p><\/div>\n<p>     <span>Don\u2019t Miss a Day: <\/span> From crude oil to coffee, sign up free for Barchart\u2019s best-in-class commodity analysis.  <\/p>\n<p>\u00a0<\/p>\n<p>Crude prices initially fell to 2-month lows Friday after Bloomberg News reported that the US and Russia are looking to reach a deal on ending the war in Ukraine, which would keep the US from ratcheting up sanctions on Russian energy exports. \u00a0Russia said it would halt its offensive in the Kherson and Zaporizhzhia regions of Ukraine along the current battlelines as part of the deal if Ukraine cedes its entire eastern Donbas area to Russia, as well as Crimea. \u00a0 The end of the war could boost global oil supplies as sanctions on Russian energy exports could be lifted, which would add crude supplies to theglobal market \u00a0<\/p>\n<p>Crude prices have moved higher after President Trump said last Monday that he would impose new tariffs on countries buying Russian energy unless Russia reaches a ceasefire with Ukraine by today. \u00a0 On Wednesday, President Trump doubled tariffs on Indian exports to 50% from 25% because of India's purchases of Russian crude. \u00a0JPMorgan Chase warned that if enforced, oil markets would be unable to ignore the impact of triple-digit tariffs on Russian oil, given the significant scale of Russian exports and limited OPEC spare capacity, which could potentially lead to a supply shock. \u00a0 \u00a0<\/p>\n<p>Concerns about a global oil supply glut are weighing on crude prices after OPEC+ on Sunday endorsed an additional 547,000 bpd increase in its crude production for September 1. \u00a0OPEC+ is boosting output to reverse the 2-year-long production cut, gradually restoring a total of 2.2 million bpd of production by September 2026. \u00a0After Sunday's meeting, the group said it will closely monitor demand and may maintain production levels, restart halted supplies, or reverse recent production increases. \u00a0OPEC+ has 1.66 million bpd of supplies that are currently due to remain offline until late 2026. \u00a0The International Energy Agency said inventories have been accumulating at a rate of 1 million bpd and that the global crude oil market faces a surplus by Q4-2025 equivalent to 1.5% of global crude consumption. \u00a0OPEC July crude production fell -20,000 bpd to 28.31 million bpd.<\/p>\n<p>The European Union recently approved fresh sanctions on Russian oil due to its aggression against Ukraine. \u00a0The sanctions package includes cutting off 20 more Russian banks from the international payments system SWIFT, as well as restrictions imposed on Russian petroleum refined in other countries. \u00a0A large oil refinery in India, part-owned by Russia's Rosneft PJSC, was also blacklisted. \u00a0Additionally, 105 more ships in Russia's shadow fleet were sanctioned, pushing the number of sanctioned ships above 400.<\/p>\n<div class=\"ads__inline\">\n<div id=\"js-dfp-tag-00k\"  class=\"btf-bodymidpagetwothirdswidth-2\">          <script type=\"text\/javascript\">         googletag.cmd.push(function() {             \/\/ Check if ID matches ID in the window.adsList array before calling googletag.display             function isAdInAdsList(id) {             for (var i = 0; i < window.adsList.length; i++) {                 if (window.adsList[i].id === id) {                     return true;                 }             }             return false;         }         if (isAdInAdsList('js-dfp-tag-00k')) {             googletag.display('js-dfp-tag-00k');         }         });     <\/script> <\/div>\n<\/p><\/div>\n<p>A decline in crude oil held worldwide on tankers is bullish for oil prices. \u00a0Vortexa reported Monday that crude oil stored on tankers that have been stationary for at least seven days fell by -15% w\/w to 79.12 million bbl in the week ended August 1.<\/p>\n<p>Wednesday's weekly EIA report showed that (1) US crude oil inventories as of August 1 were -6.5% below the seasonal 5-year average, (2) gasoline inventories were -0.3% below the seasonal 5-year average, and (3) distillate inventories were -16.1% below the 5-year seasonal average. \u00a0US crude oil production in the week ending August 1 fell -0.2% w\/w to 13.284 million bpd, modestly below the record high of 13.631 million bpd posted in the week of 12\/6\/2024.<\/p>\n<p>Baker Hughes reported Friday that the number of active US oil rigs in the week ending August 8 rose by +1 rig to 411 rigs, just above the 3.75-year low of 410 rigs from August 1. \u00a0Over the past 2.5 years, the number of US oil rigs has fallen sharply from the 5.25-year high of 627 rigs reported in December 2022.\u00a0<\/p>\n<p class=\"body__disclaimer\">     On the date of publication,      Rich Asplund              did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes.          For more information please view the Barchart Disclosure Policy      here. <\/p>\n<\/p>\n<p class=\"body__disclaimer\">The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n<p>        <script type=\"text\/javascript\">   \/\/ add oddAd class to every odd instance of body .ads__inline for different placeholder styles   let articleAds = document.querySelectorAll('.ads__inline');   for (let i = 0, len = articleAds.length; i < len; i++) {     \/\/ Do the below only if the curent count is less than 12     if ((i < 12) &#038;&#038; (i % 2 === 0)) {       articleAds[i].className += ' oddAd';     }   } <\/script>                                               <\/p>\n<div class=\"jupiter22-c-tags jupiter22-c-tags-default\">\n<h3 class=\"jupiter22-c-tags-title\">         Tags       <\/h3>\n<div class=\"jupiter22-c-tags-container\">Stocks<\/div>\n<\/p><\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>September WTI crude oil (CLU25) on Friday closed unchanged, and September RBOB gasoline (RBU25) closed up +0.086 (+0.41%). Crude oil and gasoline prices on Friday settled mixed. \u00a0Crude finished the session little changed but had support from doubts about whether a US peace plan to end the Russian-Ukraine war will gain Ukrainian or international support. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":17735,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"on","ocean_gallery_id":[],"footnotes":""},"categories":[18],"tags":[],"class_list":["post-17734","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stock","entry","has-media"],"_links":{"self":[{"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/posts\/17734","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/comments?post=17734"}],"version-history":[{"count":0,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/posts\/17734\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/media\/17735"}],"wp:attachment":[{"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/media?parent=17734"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/categories?post=17734"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/tags?post=17734"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}