Oil prices settled down on Monday by more than $1, as investors weighed new threats from U.S. President Donald Trump for sanctions on buyers of Russian oil that may affect global supplies, while still worried about Trump's tariffs.

Trump’s sanctions on Russia would be ‘extremely painful’ for US and risk global oil price spike, experts warn - Trump has threatened 100% ‘secondary tariffs’ on likes of India and China, which experts

Speaking to reporters at JBA on Tuesday, President Trump dismissed economic concerns about secondary tariffs on Russia.

Oil prices extended losses in evening trade as traders digest the latest U.S. inventory data and a report that President Trump is likely to fire Fed Chair Jerome Powell.

President Donald Trump gave Russia a 50-day window to agree to a ceasefire with Ukraine, but that’s not slowing down the Kremlin’s attacks. ABC News’ Ian Pannell reports from Kyiv.

By Anastasiia Malenko, Steve Holland and Dan Peleschuk KYIV/WASHINGTON (Reuters) -U.S. President Donald Trump announced new weapons for Ukraine on Monday, and threatened sanctions on buyers of Russian exports unless Russia agrees a peace deal,