Oil Prices Drop Following Trump's 50-Day Deadline for Russia - Jordan News

a day ago

Oil prices fell on Tuesday after U.S. President Donald Trump's relatively long 50-day deadline for Russia to end the war in Ukraine and avoid sanctions eased immediate concerns over supply disruptions. اضافة اعلان Brent crude for August delivery dropped by 12 cents, or 0.2%, to $69.09 per barrel as of 06:10 GMT (Reuters), while U.S. West Texas Intermediate (WTI) for September delivery fell 16 cents, also 0.2%, to $66.82 per barrel. Both contracts closed more than a dollar lower than in the previous session. Priyanka Sachdeva, senior analyst at Phillip Nova, commented: "Trump's lenient stance on Russian oil sanctions has alleviated supply shortage fears, even as his tariff strategy continues to exert growing economic pressure." Oil prices had initially surged on expectations of sanctions, but they later gave up gains after the 50-day extension, raising hopes the sanctions might be avoided. Traders shifted focus to whether the U.S. would actually impose high tariffs on countries continuing to trade with Russia. Should Trump follow through on the proposed sanctions, 'It would drastically alter the oil market outlook,' according to analysts at ING Bank in a Tuesday note. The note also stated: 'China, India, and Turkey — the top importers of Russian crude — would need to weigh the benefits of discounted oil against the cost of their exports to the U.S.' On Monday, Trump announced new weapons for Ukraine, and on Saturday he said he would impose a 30% tariff on most imports from the EU and Mexico, effective August 1, adding to earlier threats aimed at other countries. These tariffs could slow global economic growth, potentially reducing fuel demand and pushing oil prices lower. Tuesday's data also showed a slowdown in China's economy in Q2, as markets brace for a weaker second half due to falling exports, declining prices, and waning investor confidence. Tony Sycamore, analyst at IG, noted: 'China's economic growth beat expectations largely due to strong fiscal support and front-loading of exports to the U.S. to avoid incoming tariffs.' 'Today's weak Chinese data directly affects commodities like iron ore and oil.'
Meanwhile, the OPEC Secretary-General stated that oil demand will remain 'very strong' during Q3, helping maintain near-term market balance, according to Russian media (Reuters).

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Protests in Jaramana demand the fall of Syrian regime

Al Bawaba

an hour ago

Al Bawaba

Protests in Jaramana demand the fall of Syrian regime

Published July 16th, 2025 - 11:18 GMT ALBAWABA - Less than a year following Assad's regime change in Syria, protests were reported in Jaramana city, southern Syria, on Wednesday, calling for the fall of the current regime in the country. Dozens of people were seen in the streets of Jaramana city calling for a regime change as they chanted: "Julani, what do you want?" and "Julani, take your clothes and leave". Some Syrian accounts on social media said that the "Druze community" in Jaramana has taken to the streets, demanding the overthrow of the "Jolani regime" over its clashes in Sweida. — Muhammad kassab (@mhdkassab) July 16, 2025 The protests came after the latest clashes between Syrian regime forces and the Druze community in Sweida. France 24 said that fighting between Syrian government forces and local Druze fighters continued in the southern Druze city today, violating a ceasefire that was announced by the Syrian government earlier. At the beginning, Syrian soldiers were dispatched to Sweida on Monday to quell fighting between Druze fighters and Bedouin men, but ended up clashing with the Druze militias. No official casualty figures have been released since Monday, but the Syrian Interior Ministry revealed that 30 people were killed in clashes. On the other hand, Syrian Observatory for Human Rights (SOHR) revealed a bigger figure, saying over 250 people had been killed as of Wednesday morning, including four children, five women and 138 soldiers and security forces. © 2000 - 2025 Al Bawaba (

Italy may release up 10,000 people from prison to ease overcrowding

Ammon

an hour ago

Ammon

Italy may release up 10,000 people from prison to ease overcrowding

Ammon News - Italy may release up to around 10,000 people from prison, or about 15% of the total population of inmates, to ease overcrowding, the Justice Ministry has announced. Some 10,105 prisoners are "potentially eligible" for alternative measures to prison, such as house arrest or probation, the ministry said in a statement late on Tuesday. The option would apply to people whose convictions are final and no longer subject to appeal, less than 2 years of sentences left to serve, and no serious disciplinary offences in the past 12 months. People serving time for serious crimes such as terrorism, organized crime, rape, migrant trafficking and kidnapping would be excluded, the ministry added. According to the World Prison Brief database, Italy has one of Europe's worst prison overcrowding records, with an occupancy level of around 122%. Reuters

Dubai and Abu Dhabi Markets Close in on Record Highs Despite Trade Jitters

Al Bawaba

4 hours ago

Al Bawaba

Dubai and Abu Dhabi Markets Close in on Record Highs Despite Trade Jitters

Global markets have shown impressive resilience in 2025 despite escalating trade tensions and shifting tariff deadlines. The latest move by U.S. President Donald Trump to postpone the implementation of reciprocal tariffs to August 1 has extended the window for potential negotiations, helping calm short-term investor continued geopolitical uncertainty, the S&P 500 has surged over 25% since its April low, recently hitting a new all-time high for 2025. This rally, now considered one of the strongest in recent memory, is being partly attributed to a market phenomenon informally dubbed "TACO" – Trump Always Chickens Out – which reflects investor belief that the White House may ultimately soften its trade stance.'All-time highs tend to make investors nervous, but history shows they are often followed by continued strength,' said an analyst at eToro. 'A recent study from BNY revealed that since 1950, the S&P 500 has delivered solid 1, 3, and 5-year returns from a new all-time high. Investors who remain on the sidelines may miss out on significant long-term gains.'Still, caution is warranted. The upcoming tariff deadline could reignite market volatility, particularly if negotiations break down or new tariffs exacerbate inflationary pressures in the Markets Outperform on Strong FundamentalsCloser to home, UAE markets have continued their strong performance, largely unshaken by global trade headwinds. The Dubai Financial Market (DFM) recently hit a 17-year high following three consecutive weeks of gains, with Union Properties and Emirates NBD among the top performers. Meanwhile, the Abu Dhabi Securities Exchange (ADX) is nearing its own record factors such as robust local economic fundamentals and higher oil prices have contributed to the region's strength. As global investors seek stability, the UAE is increasingly seen as a relative safe haven.'The local market's momentum reflects confidence in the UAE's economic outlook,' the eToro analyst added. 'However, investors should remain vigilant. Any escalation in U.S. trade actions could have ripple effects, even in markets that have so far been insulated.' With the August 1 tariff deadline approaching, markets are expected to respond quickly to any major headlines related to trade negotiations. While the outlook remains broadly positive, global developments could still test the UAE's market resilience in the weeks ahead.