India, Aug. 7 -- Crude oil prices fell on Thursday predominantly due to the switching of the "hard-and-soft" stance by the US on Russia over the country's reluctance to stop its three-plus-year war with Ukraine.
WTI Crude Oil for September delivery was last seen down by $0.49 (or 0.76%) at $63.86 per barrel.
Russia remains immune to the US pressure whereby it faces a "sanctions threat" on its oil exports in case of failing to strike a peace deal with Ukraine by tomorrow. Russia's billion-dollar oil export business could take a massive hit as the US has threatened other countries buying oil from Russia with high "penalty" tariffs.
To mean what he says, US President Donald Trump had imposed a 25% tariffs on India, a major buyer of Russian ...