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Oil rose modestly after US second-quarter GDP grew at a 3% annualized rate, beating most forecasts. President Trump announced a 25% tariff on Indian goods starting August 1 and threatened secondary sanctions over India's purchases of Russian crude, with WTI near $70.20 and Brent near $73.37.
Threatened secondary sanctions on Russian crude buyers could tighten global oil supply and raise energy costs for feed producers and transport. Tariffs on India could also affect trade flows in agricultural goods.
investing.comOilPrice.comJul 31, 2025After 626 past bullish geopolitics events, Crude Oil (WTI) moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% over 20.
After 656 past bullish geopolitics events, Crude Oil (Brent) moved a median +1.9% over 5 sessions (63% higher; middle half -2.7% to +6.6%), and +0.7% 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.
