Trump-Putin Showdown Fuels Oil Price Uncertainty

Sentiment among oil traders has turned bullish recently despite forecasts flagging sluggish demand growth and OPEC+’s latest decision to add more barrels to its combined production. The reason for the change in sentiment was U.S. President Donald Trump’s threat to impose new sanctions on Russia unless it agreed to a quick ceasefire with Ukraine. Following the news, oil jumped to the highest in a month—despite those sluggish demand forecasts. Brent crude began trading this week at over $69 per barrel, even after OPEC+ announced…