{"id":55472,"date":"2025-05-26T20:57:09","date_gmt":"2025-05-26T20:57:09","guid":{"rendered":"https:\/\/www.africa-press.net\/mauritius\/all-news\/oil-prices-rise-as-trump-delays-eu-tariff-deadline-russia-ukraine-conflict-intensifies"},"modified":"2025-05-26T21:16:09","modified_gmt":"2025-05-26T21:16:09","slug":"oil-prices-rise-as-trump-delays-eu-tariff-deadline-russia-ukraine-conflict-intensifies","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mauritius\/all-news\/oil-prices-rise-as-trump-delays-eu-tariff-deadline-russia-ukraine-conflict-intensifies","title":{"rendered":"Oil prices rise as Trump delays EU tariff deadline, Russia-Ukraine conflict intensifies"},"content":{"rendered":"

Africa-Press – Mauritius. <\/strong><\/span>Oil prices rose modestly on Monday, buoyed by US President Donald Trump’s decision to extend a deadline for imposing steep tariffs on the EU and ongoing geopolitical tensions stemming from the Russia-Ukraine conflict.<\/p>\n

International benchmark Brent crude increased by around 0.01%, trading at $64.46 per barrel at 10.23 am local time (0723 GMT), up from $64.45 at the previous session’s close.<\/p>\n

Similarly, US benchmark West Texas Intermediate (WTI) rose by about 0.2%, reaching $61.69 per barrel, compared to $61.56 in the prior session.<\/p>\n

The White House confirmed Trump’s decision to postpone the imposition of a 50% tariff on EU imports until July 9, following a call with European Commission President Ursula von der Leyen.<\/p>\n

The EU leader also confirmed the discussion, saying Brussels is prepared to act “swiftly and decisively” in trade talks. “To reach a good deal, we would need the time until July 9,” she said.<\/p>\n

Trump had earlier threatened to enact the tariffs beginning June 1, citing what he described as unfair trade practices harming US companies. The delay signals a temporary de-escalation in US-EU trade tensions, although divisions remain over tariffs, subsidies, and regulatory policies.<\/p>\n

Analysts say the decision is supportive of oil prices, as it boosts global economic sentiment and reinforces energy demand expectations.<\/p>\n

Meanwhile, the conflict in Ukraine continues to elevate oil market risk premiums.<\/p>\n

At least 12 people were killed and more than 60 injured early Sunday following a second consecutive night of large-scale Russian drone attacks, Ukrainian authorities said.<\/p>\n

Ukraine’s Air Force also reported intercepting 266 of 298 drones launched by Russia, along with 47 missiles. The Russian Defense Ministry, in a separate statement, claimed it had carried out a “massive” strike targeting Ukrainian military-industrial facilities and strategic communications centers.<\/p>\n

The renewed escalation in violence adds to supply concerns, reinforcing upward pressure on crude prices.<\/p>\n

However, some market participants remain cautious amid persistent fears of a supply glut. The OPEC+ alliance\u2014comprising OPEC members and other non-OPEC producers\u2014is set to meet on June 1, where a potential output increase might be discussed.<\/p>\n

For More News And Analysis About Mauritius<\/span> Follow Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mauritius. Oil prices rose modestly on Monday, buoyed by US President Donald Trump’s decision to extend a deadline for imposing steep tariffs on the EU and ongoing geopolitical tensions stemming from the Russia-Ukraine conflict. 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