1229 ET - Oil futures flatten out after an early jump on the EU's tightening of sanctions against Russia, which includes lowering the price cap for crude sales. "Traders note that enforcement questions and the White House's muted stance tempered the initial rally," Gelber & Associates says in a note. The market has twice this week shrugged off the prospect of greater Russia sanctions. President Trump's threat of secondary tariffs against countries trading with Russia unless a deal with Ukraine is reached in 50 days also had little impact, with gains limited by expectations of eventual oversupply as OPEC and non-OPEC countries raise output. WTI is off 0.1% at $67.47 a barrel and Brent off 0.2% at $69.39.(anthony.harrup@wsj.com)

(END) Dow Jones Newswires

July 18, 2025 12:29 ET (16:29 GMT)

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