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Crude oil futures end lower on Wednesday

07 Aug 2025 Evaluate

Crude oil futures closed lower on Wednesday, with a US envoy in Russia hinting positive signals after negotiations on a ceasefire with Ukraine. US President Donald Trump recently threatened Russia to stop its war with Ukraine or face severe sanctions and added that countries buying oil from Russia would also face high secondary sanctions.

Benchmark crude oil futures for September decreased $0.81 or about 1.24% at $64.35 a barrel on the New York Mercantile Exchange. Brent crude for October delivery declined $0.75 or 1.11% to settle at $66.89 a barrel on London's Intercontinental Exchange.