Crude oil futures held steady due to mixed U.S. economic and tariff news and concerns over oil supplies following EU sanctions against Russia. Brent crude settled at $69.28 a barrel, WTI crude at $67.34, both down 2% for the week. U.S. homebuilding fell, but consumer sentiment improved in July.

President Trump seeks minimum 15-20% tariffs in any EU deal, potentially exceeding 10%. Analysts warn of tariffs pushing the U.S. effective rate above 25%, impacting inflation. Rising inflation could affect consumer prices, economic growth, and oil demand.

EU implemented 18th sanctions package against Russia, targeting oil and energy sectors. New measures exclude petroleum products made from Russian crude, impacting major importers like India and Turkey. Chevron finalized $55 billion acquisition of Hess, securing access to major oil discovery off Guyana after legal battle.

Read more at Yahoo Finance: Oil steadies as mixed US economic and tariff news offset new Russia sanctions