India, July 30 -- Crude oil inched higher on Wednesday as the US keeps door open for trade negotiations, raising hopes of an end to the trade war, while US President Donald Trump shortened the grace period for Russia to avoid sanctions on its energy trades from 50 to 10 days.
Today, WTI Crude Oil for September delivery was last seen trading, up by $0.82 (or 1.18%) at $70.02 per barrel..
Yesterday, Trump had threatened Russia to end its three-year-plus war on Ukraine in another 10 days. Russia would face high tariffs and sanctions on its energy exports if it fails to do so.
To make his stance clear, today he announced plans to impose a penalty on top of his other tax levies on India as India buys Russian crude oil.
However, a Russian spo...