Debasis Mohapatra
Bengaluru, 23 August 2025
Crude oil prices are likely to rise in coming week as the peace deal between Russia & Ukraine seems to have hit the roadblock.
Moreover, US Federal Reserve Chairman, Jerome Powell’s indication that the central bank may cut interest rate will support the uptrend in crude oil. On Friday, speaking at the Federal Reserve Bank of Kansas City’s annual economic symposium in Jackson Hole, Wyoming, Powell hinted that a rate cut in September is likely without committing. He said that the central bank has eased policy to support economic growth as the labour market shows signs of weakening.
Downside risks to employment are rising, he said noting that the Fed has held interest rates steady for eight consecutive months. He also said that that the impact of tariffs imposed by President Trump would be short-lived. On the war front, after Trump’s meeting with Russian President Vladimir Putin, the peace effort has not progressed much with no direct negotiations between Russia & Ukraine in sight. Meanwhile, the US continues to put pressure on India for its purchase of Russian oil.
On Friday, brent crude oil settled 0.27% higher at $66.84 at NYMEX. In the last five days, Brent jumped 3%, reflecting the market sentiment.
