Phillip Nova
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Trump lifts Russia energy sanctions, oil prices fall and energy ceasefire with Ukraine announced
On October 19, oil prices dropped after US President Donald Trump signed an executive order lifting sanctions and tariffs against Russia and rescinding pending enhanced sanctions under the Graham Act. Brent crude fell 1.80% to $107.88 per barrel and WTI dropped 1.14% to $100.25. Trump simultaneously announced a Ukraine–Russia energy ceasefire covering strikes on oil refineries, though Ukraine said attacks on its own energy infrastructure continue.