Oil Prices Fluctuate Amidst Ukraine Conflict, Geopolitical Tensions & OPEC+ Watch
NEW YORK – September 5, 2025 – Oil prices dipped slightly on Tuesday, following a substantial surge in the previous session, as traders carefully assess the escalating conflict in Ukraine, shifting geopolitical dynamics, and the upcoming decisions from OPEC+. The market remains highly sensitive to disruptions in Russian supply and the potential impact of U.S. trade policies on major oil consumers.
Brent futures, with November expiry, stood at $69.46 per barrel at 10:54 a.m. London time (5:54 a.m. ET), representing a 1.92% increase from Monday’s close. West Texas Intermediate (WTI) crude for October delivery traded at $65.97, up 3.06%. WTI settlements where not recorded on Monday due to the U.S. Labor Day holiday.
Ukraine Conflict Disrupts Russian Supply
Intensified fighting between Russia and Ukraine is fueling concerns about the stability of Russian oil production. Reports from Reuters suggest Ukrainian drone attacks have impacted facilities responsible for at least 17% of Russia’s oil processing capacity - though CNBC has not independently verified these claims.
Ukrainian President Volodymyr Zelenskyy signaled further escalation,promising “new deep strikes” against Russia in a recent social media post. This comes as diplomatic efforts led by the U.S. and Europe to secure a ceasefire agreement with Russia remain stalled.
Adding to the complexity, the White House has implemented new tariffs on Indian goods, citing New Delhi’s continued purchases of Russian crude. India has strongly protested these measures, labeling them ”unfair
