Key Facts
• Crude oil futures traded in a narrow range during Asian hours on September 1, 2025.
• Brent crude futures fell $0.12 (0.18%) to $67.36 per barrel at 0046 GMT.
• U.S. WTI crude futures dropped $0.13 (0.2%) to $63.88 per barrel.
• Increased production and U.S. tariffs raised demand concerns, offsetting supply fears.
• Russian drone attacks on Ukraine’s power facilities caused outages for 60,000 people.
• Ukraine vowed retaliation with attacks deep into Russian territory.
• Russia’s weekly oil shipments fell to a four-week low of 2.72 million barrels per day.
• China’s August manufacturing PMI was 49.4, below the 50 threshold for five months.
• U.S. crude production in June hit a record 13.58 million barrels per day.
• Investors await the OPEC+ meeting on September 7 for production guidance.
Summary
Crude oil futures remained within a narrow range during Asian trading hours on September 1, 2025, as increased production and U.S. tariff-related demand concerns balanced fears over supply disruptions caused by intensified Russia-Ukraine conflicts. Brent crude fell to $67.36 per barrel, while WTI crude dropped to $63.88. Russian drone strikes on Ukrainian power facilities left 60,000 people without electricity, prompting Ukraine to pledge retaliatory attacks. Russia’s oil exports declined to a four-week low of 2.72 million barrels per day. Meanwhile, China’s manufacturing PMI for August remained below the 50-point threshold for the fifth consecutive month, reflecting weak domestic demand. U.S. crude production reached a record high of 13.58 million barrels per day in June. Investors are closely monitoring the upcoming OPEC+ meeting on September 7 for further production insights.
