global oil supply
Oil Prices Drop as Israel and Hamas Reach First Phase Agreement on Gaza Peace Plan
Oct 09, 2025 09:47 am CST
Oil markets responded with price declines on Thursday as Israel and Hamas agreed to the initial phase of a Gaza peace plan, reducing geopolitical risk premiums. Brent crude fell 0.77% to $65.74 while WTI dropped 0.88% to $62 as investors reassessed supply risks following the ceasefire announcement by U.S. President Donald Trump.
No Sanctions Exist on Russian Crude Oil Purchases: Indian Petroleum Minister Explains Global Energy Supply Dynamics
Sep 26, 2025 08:19 pm CST
Indian Petroleum Minister Hardeep Singh Puri clarifies that no international sanctions prohibit Russian crude oil purchases while warning about serious global consequences if supplies from the world's second-largest producer were disrupted. The statement comes amid US-India trade tensions including new punitive duties on India's Russian energy imports, as Puri emphasizes the importance of maintaining global energy supply equilibrium.