Oil prices inch lower at close

21/07/2025 Argaam
Oil drilling rigs

Oil drilling rigs

Oil prices closed marginally lower on Monday amid expectations of limited impact from the latest European Union (EU) sanctions on Russian supplies.

 

Brent crude futures for September delivery slipped by 0.10%, or 7 cents, to settle at $69.21 a barrel.

 

Meanwhile, WTI crude futures for August delivery fell 0.20%, or 14 cents, to $67.20 a barrel.

 

On July 18, the EU approved its 18th package of sanctions against Russia over its war with Ukraine, which included additional restrictions on the oil sector and its trade.

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