India, July 15 -- Oil prices were moving lower on Tuesday as investors assessed U.S. President Donald Trump's ultimatum to Russia regarding the Ukraine war and potential sanctions on oil buyers.
Trump's increased trade rhetoric and expectations of increased output by OPEC+ countries also added to the downward pressure on prices.
Brent crude futures for September delivery were down 0.4 percent at $68.97 a barrel in European trade, while WTI crude futures for August delivery dropped half a percent to $66.67.
Market players were reacting to comments by Trump that the U.S. would impose 100 percent secondary tariffs on Russia if a peace deal to end the war in Ukraine is not reached within 50 days.
After his meeting with NATO Secretary Genera...