Oil steady as market weighs Trump tariff threats, surprise US stockbuild
Brent crude futures for September , set to expire on Thursday, fell 10 cents, or 0.1%, to $73.14 a barrel by 0345 GMT. The more active Brent October contract was down 14 cents, or 0.2%, at $72.33.
U.S. West Texas Intermediate crude for September dropped 5 cents, or 0.1%, to $69.95 a barrel.
Both benchmarks settled 1% higher on Wednesday.
Trump said he would start imposing measures on Russia, including 100% secondary tariffs on its trading partners, if it did not make progress on ending the war within 10-12 days, moving up an earlier 50-day deadline.
On Wednesday, the U.S. Treasury Department announced fresh sanctions on over 115 Iran-linked individuals, entities and vessels, in a sign the Trump administration is doubling down on its "maximum pressure" campaign after bombing Tehran's key nuclear sites in June.
Meanwhile, U.S. crude oil inventories rose by 7.7 million barrels in the week ending July 25 to 426.7 million barrels, driven by lower exports, the Energy Information Administration said on Wednesday. Analysts had expected a 1.3 million-barrel draw.
Gasoline stocks fell by 2.7 million barrels to 228.4 million barrels, far exceeding forecasts for a 600,000-barrel draw. Reuters
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