The Oct’25 Brent crude futures traded between a 50c range from $67.50 to $68/bbl on Friday afternoon. Prices are on track for a weekly rise, but face a technical hurdle at the $68/bbl level, which is where Brent saw support in July and early August. Ukrainian President Volodymyr Zelenskyy said only Donald Trump can stop Vladimir Putin as Kyiv’s talks with Washington remain inconclusive, while NATO’s Mark Rutte outlined plans for dual security guarantees to strengthen Ukraine’s defences and deter future Russian aggression. Kazakhstan’s environment ministry has reimposed a $4.4 billion sulphur pollution fine on oil majors at the Kashagan field, giving them 40 days to pay despite a recent court ruling in their favour, with operators calling the penalty “unprecedented” and pledging to appeal. A Ukrainian missile and drone strike on Russia’s Unecha pumping station has temporarily halted Druzhba pipeline oil flows to Hungary and Slovakia for at least five days, prompting protests from Budapest and Bratislava over energy security while Trump expressed anger at the attacks ahead of his talks with Putin. Serbia’s Gazprom-owned oil company NIS has requested a sixth US sanctions waiver to keep securing crude supplies for its Pancevo refinery, as its current exemption expires on August 27. Finally, the front (Oct/Nov) and 6-month (Oct/Apr) Brent futures spreads are at $0.50/bbl and $1.45/bbl respectively.
