Oil Prices July 2025 Slip as Trump Plays Diplomatic Card, China GDP Surprises
Oil prices slipped on Tuesday, July 15, 2025, extending Monday’s selloff after U.S. President Donald Trump provided Russia with more time to secure a peace deal in Ukraine before imposing sanctions. However, stronger-than-expected China GDP data offered some support to crude demand expectations.
At 07:45 ET (11:45 GMT), Brent oil futures for September fell 0.1% to $69.10 per barrel, while West Texas Intermediate (WTI) dropped 0.2% to $66.88 per barrel.
Key Takeaways on Oil Prices July 2025
- Trump delayed harsher sanctions on Russia, setting a 50-day deadline for a peace deal.
- Brent and WTI fell 0.1–0.2%, extending Monday’s nearly 2% drop.
- China GDP grew 5.2% in Q2 2025, slightly beating forecasts, boosting crude demand hopes.
- China’s crude imports jumped 7% YoY in June, reaching 12.2m b/d.
- Global trade tensions remain high with Trump’s new tariffs on EU, Mexico, and key allies effective August 1.
Trump Gives Russia Sanctions Space
Trump warned that if Russia fails to secure a peace deal within 50 days, secondary sanctions would hit countries importing Russian oil. The initial announcement briefly pushed prices higher, but crude retreated as traders doubted the immediate enforcement of sanctions.
According to ING analysts:
“The lack of any immediate action and the belief these threats won’t be carried out help to explain the market reaction… If implemented, sanctions could remove more than 7 million b/d of Russian oil from the market, driving prices sharply higher.”
OPEC’s spare capacity is unlikely to offset such a shortfall, though ING noted Trump’s preference for low oil prices makes full enforcement unlikely.
China GDP Beats Forecast, Crude Imports Rebound 📊
China’s economy expanded 5.2% YoY in Q2 2025, slightly above forecasts of 5.1%, supported by strong exports and targeted government stimulus. Industrial output surged to a three-month high in June, while retail sales disappointed.
China’s crude oil imports climbed 7% year-on-year in June to 12.2 million b/d, marking a more than 10% monthly increase as refineries resumed operations after spring maintenance. Cumulative imports in H1 2025 rose 1.4% YoY.
Tariffs in Focus
Trade tensions remain in the spotlight as Trump confirmed a 30% tariff on EU and Mexico imports from August 1, alongside new tariffs on Japan, South Korea, Canada, and Brazil, and a 50% tariff on copper. In response, the EU is preparing retaliatory tariffs targeting $84 billion worth of U.S. goods.
💬 Do you think Trump’s delayed sanctions will keep oil prices low, or could a sudden policy shift spark a rally? Comment below and follow us for more market insights! ⛽📉🌏
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