Oil prices slipped in Asian trading on Friday, reversing the prior session’s gains. Brent crude fell 0.8% to $68.10 per barrel, while WTI declined 0.7% to $64.14. Both benchmarks remain on track for monthly losses of more than 6%, pressured by steady OPEC output growth.
Hopes for a Russia-Ukraine peace breakthrough dimmed as Moscow launched new strikes while President Trump urged Kyiv to engage in direct talks. Analysts warned that the risk of sanctions and secondary tariffs continues to weigh on market sentiment.
At the same time, Washington doubled tariffs on Indian imports to 50%, targeting New Delhi’s continued purchases of Russian crude. Traders are watching closely whether Indian refiners will curb oil flows, as any disruption could significantly sway global prices.