Oil prices rose on Tuesday, extending the previous day's rally, on optimism that a trade war between the United States and its major trading partners was abating and as President Donald Trump ramped up pressure on Russia over its war in Ukraine.

Falling inflation has persuaded the central bank in Moscow to continue relaxing the country’s record borrowing costs.

Ukraine's National Bank held its benchmark interest rate unchanged at 15.5% while revising down economic projections, citing war-related damage and weaker harvests, the bank said on July 24. The regulator now expects core inflation,

Global growth is projected at 3.0 percent for 2025 and 3.1 percent in 2026, an upward revision from the April 2025 World Economic Outlook. This reflects front-loading ahead of tariffs, lower effective tariff rates,

It is the Ukrainian state that determines where and what to extract,” said Ukraine’s Economy Minister Yulia Svyrydenko, who signed the deal on behalf her country.

President Zelenskyy has nominated a new prime minister and is expected to make other key changes, including the country's ambassador to Washington, amid the ongoing war with Russia.

It is the Ukrainian state that determines where and what to extract,” said Ukraine’s Economy Minister Yulia Svyrydenko, who signed the deal on behalf her country.