US EditionTrump’s Sanctions Light a Fire Under Oil Prices
18 Articles
18 Articles
Trump Sanctions Look to Tighten the Screw on Russia's Oil Income
(Bloomberg) — When the US imposed its first major sanctions on Russia's petroleum industry since Donald Trump’s return to the White House, the oil market briefly dived into chaos. Refiners in India, a major market for Russian oil, said they'd stop buying while some in China also hit the panic button; crude prices jumped 6%.
Trump wants to cut Russian oil companies Rosneft and Lukoil off the international financial system, which seems to make it difficult to circumvent sanctions over India and China. Oil and fuel oil prices are fasting.
Oil prices rose today, with Brent crude rising to around $66 per barrel and US West Texas Intermediate (WTI) crude rising to around $61 per barrel, close to a two-week high and on track for their biggest weekly gain since early June.
Trump’s Sanctions Light a Fire Under Oil Prices
Oil markets roared back to life after Trump’s sanctions on Russia’s top oil producers sent prices surging. Friday, October 24, 2025Trump’s sanctions on Russia’s top oil firms have cut short the past weeks’ downward pricing movement, with stories of record high crude on water, flattening backwardation curves and weakening Chinese SPR purchases now all put on the back burner. With ICE Brent soaring to $66 per barrel, up $5 per barrel in just one d…
Oil prices fell on Friday because skepticism increased on the market about Trump's government's commitment to sanctions on Russia's two largest oil companies for the war in Ukraine. Brent crude futures dropped 5 cents, or 0.08%, to $65.94 a barrel, while the futures of the US crude WTI ended up to $61.50 a barrel, dropping 29 cents, or 0.47 percent. Both benchmarks had risen at the beginning of the session, widening the profits of more than 5% o…
Petroleum prices likely to hit Rs300 per litre in Pakistan
Following the recent U.S. sanctions on Russian oil companies, fuel prices are expected to witness a massive surge in the international market. As a result, the prices of petrol and diesel in Pakistan may cross Rs300 per litre in the coming days. According to analysts, after the U.S. imposed sanctions on major Russian oil companies, India and China have decided to halt their purchases of Russian oil. Continuing to buy from Russia could expose bot…
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