Crude Oil lurches higher after Trump gives Russia ten days to strike a deal with Ukraine

• US President Donald Trump gave Russia ten days to figure out a deal with the Ukraine.
• If Russia doesn't play ball, Trump is threatening new sanctions on Russian Crude Oil.
• Secondary tariffs are on the table as well as Trump threatens to go after anyone who buys Russian barrels.

West Texas Intermediate (WTI) US Crude Oil rose at its fastest single-day pace in over a month after US President Donald Trump announced that he's giving Russia just ten days to reach an acceptable resolution on Ukraine, or face stiff economic sanctions and penalties. The Trump administration is threatening to impose stiff secondary tariffs on any country that purchases Russian Crude Oil assets if a deal isn't reached in the next ten days.

WTI Crude Oil is back above $69.00 per barrel for the first time since late June, rising over 3.5% on Tuesday alone. WTI has risen 7% bottom-to-top over a two-day period as the Trump team ramps up its tough talk against the Russian regime. Donald Trump has pivoted into expressing frustration at Russian President Vladimir Putin, as Putin's lack of earnest peace talks with Ukraine hamper Donald Trump's ability to fulfill his campaign promises of decisively ending the war in Ukraine.

The ongoing Russian invasion within Ukrainian borders has been ongoing for 1.251 days and counting. Russia's government initially expected the entire "military exercise" to take no more than three days, but Russia's military has thus far struggled, if not outright failed, to overcome a country that is roughly one-third the size of Russia.

WTI price forecast

With stiff trade penalties on the docket for energy markets, WTI has jumped into a new price band just north of the 200-day Exponential Moving Average (EMA) near $68.15. Price action has broken through the key moving average for the first time in over a month, and price action is headed back to $70.00/bbl.

WTI daily chart