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Brent fell 82 cents, about 1.2%, to $68.39 and WTI August fell $1.05, or 1.6%, to $66.15 as key trade talks faltered ahead of a tariff deadline. Prices were pressured by fears of weaker demand from tariffs.
Failed trade talks raise the risk of slower global growth and lower oil demand, which eases energy and fuel costs for feed producers. Lower crude also reduces biofuel feedstock support for vegetable oils.
reuters.comShariq KhanJul 22, 2025After 56 past bearish trade events, Crude Oil (Brent) moved a median -5.6% over 5 sessions (20% higher; middle half -9.0% to -1.7%), and -4.5% over 20.
After 80 past bearish trade events, Crude Oil (WTI) moved a median -2.2% over 5 sessions (30% higher; middle half -6.9% to +0.8%), and -1.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
