Brent crude oil futures hovered around $67 per barrel on Wednesday, holding a more than 2% decline in the previous session, as investors assessed uncertainties amid geopolitical risks and tariff disputes. Focus remained on developments between Russia and Ukraine, which recently stepped up strikes on each other’s energy infrastructure. Meanwhile, the US is set to double tariffs on certain Indian goods to 50% today over its oil trade with Russia, though analysts noted limited supply concerns, as the Indian government has not ordered a halt to Russian crude and refiners plan to maintain most purchases. Investors are also watching broader market uncertainties following concerns over the Federal Reserve’s independence. In the meantime, API data showed US crude inventories fell nearly 1 million barrels last week, smaller than the expected 1.7 million.