Oil Holds Steady as Trump's 50-Day Deadline for Russia Eases Supply Fears

Oil prices were little changed on Tuesday after U.S. President Donald Trump's lengthy 50-day deadline for Russia to end the Ukraine war and avoid sanctions eased immediate supply concerns. 

Brent crude futures were up a marginal 3 cents at $69.24 a barrel by 1313 GMT. U.S. West Texas Intermediate crude futures were down 7 cents at $66.90.

"The focus has been on Donald Trump. There was some fear he might target Russia with sanctions immediately and now he has given another 50 days," said UBS commodities analyst Giovanni Staunovo. "Those fears about an imminent additional tightness in the market have dissipated. That's the main story...

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