{"id":5523,"date":"2025-10-16T15:56:00","date_gmt":"2025-10-16T11:56:00","guid":{"rendered":"https:\/\/omanet.om\/en\/news\/economy\/oil-up-1pct-after-trump-comments\/"},"modified":"2025-10-17T08:50:33","modified_gmt":"2025-10-17T04:50:33","slug":"oil-up-1pct-after-trump-comments","status":"publish","type":"post","link":"https:\/\/omanet.om\/en\/news\/economy\/oil-up-1pct-after-trump-comments\/","title":{"rendered":"Oil Prices Rise 1% Following Trump&#8217;s Statement on India Halting Russian Oil Purchases: What It Means for Global Markets and Investors"},"content":{"rendered":"<style>\r\n@keyframes hitv3sog-fadein{from{opacity:0;transform:translateY(14px)}to{opacity:1;transform:translateY(0)}}\r\n@keyframes hitv3sog-slideup{from{opacity:0;transform:translateY(20px)}to{opacity:1;transform:translateY(0)}}\r\n@keyframes hitv3sog-pulse{0%,100%{box-shadow:0 0 14px #dc262688}50%{box-shadow:0 0 32px #dc2626,0 0 60px #dc262655}}\r\n@keyframes 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solid rgba(255,255,255,0.18);backdrop-filter:blur(8px);-webkit-backdrop-filter:blur(8px);border-radius:20px;padding:3px 10px 3px 7px;margin-bottom:clamp(5px,0.6vw,9px);animation:hitv3sog-badge 0.5s ease both;\"><span style=\"display:inline-block;width:6px;height:6px;border-radius:50%;background:#dc2626;flex-shrink:0;\"><\/span><span style=\"font-size:clamp(8px,0.9vw,10px);font-weight:700;letter-spacing:0.07em;color:rgba(255,255,255,0.88);text-transform:uppercase;white-space:nowrap;\">EXCLUSIVE OMAN OFFER<\/span><\/div>\r\n    <div class=\"hitv3sogh\" style=\"animation:hitv3sog-slideup 0.7s ease both;animation-delay:0.15s;\">Websites For <span style=\"color:#dc2626;\">Omani Businesses.<\/span><\/div>\r\n    <div class=\"hitv3sogs\" style=\"animation:hitv3sog-slideup 0.7s ease both;animation-delay:0.3s;\">Empower your brand with custom digital solutions designed for high conversion and market dominance.<\/div>\r\n    <div class=\"hitv3sogbl\"><div class=\"hitv3sogbi\"><span style=\"display:inline-block;width:5px;height:5px;border-radius:50%;background:#dc2626;flex-shrink:0;margin-right:7px;\"><\/span><span>Responsive designs built for growth<\/span><\/div><div class=\"hitv3sogbi\"><span style=\"display:inline-block;width:5px;height:5px;border-radius:50%;background:#dc2626;flex-shrink:0;margin-right:7px;\"><\/span><span>Fast loading with smart automation<\/span><\/div><\/div>\r\n  <\/div>\r\n  \r\n  <div class=\"hitv3sogct\">\r\n    <button class=\"hitv3sogbtn\" style=\"animation:hitv3sog-pulse 2.5s ease-in-out infinite;animation-delay:1s;\">Build Your Free Website <span style=\"opacity:.9;\">\u2192<\/span><\/button>\r\n    <div class=\"hitv3sogbr\">hit.land<\/div>\r\n  <\/div>\r\n<\/a>\r\n<\/div>\n<p>TOKYO \u2014 Oil prices increased by approximately 1% on Thursday following US President Donald Trump&#8217;s statement that Indian Prime Minister Narendra Modi had committed to ending India\u2019s purchases of Russian oil, a development that could tighten global supply. By 0655 GMT, Brent crude futures gained 56 cents, or 0.9%, reaching $62.47 per barrel, while US West Texas Intermediate (WTI) futures rose 58 cents, or 1%, to $58.85 per barrel.<\/p>\n<p>Both benchmarks had fallen to their lowest levels since early May in the previous session due to concerns over US-China trade tensions and a warning from the International Energy Agency about a significant surplus expected next year. This surplus is attributed to increased output from OPEC+ and other producers amid weak demand.<\/p>\n<p>Trump\u2019s announcement on Wednesday highlighted India&#8217;s intention to halt its Russian oil imports, which currently constitute about one-third of the country\u2019s total oil imports. The United States plans to next persuade China to take similar actions. This strategy is part of Washington\u2019s broader effort to curb Moscow\u2019s energy revenues and pressure Russia towards a peace agreement concerning Ukraine.<\/p>\n<p>In response, India\u2019s government emphasized on Thursday that its priorities remain stable energy prices and secure supply, without directly addressing Trump\u2019s remarks. According to three sources familiar with the matter, some Indian refiners are preparing for a gradual reduction in Russian oil imports.<\/p>\n<p>Additionally, US Treasury Secretary Scott Bessent informed Japanese Finance Minister Katsunobu Kato that the Trump administration expects Japan to cease importing Russian energy.<\/p>\n<p>Currently, India and China are the largest buyers of Russian seaborne crude exports, which face sanctions from the US and the European Union. Prime Minister Modi has resisted US pressure for months, with Indian officials citing national energy security as a justification for continuing their purchases.<\/p>\n<p>Tony Sycamore, market analyst at IG, noted, \u201cAt the margin, this is a positive development for crude oil prices as it would remove a major buyer (India) of Russian oil.\u201d<\/p>\n<p>On Wednesday, the UK government also announced new sanctions targeting Russian companies Rosneft and Lukoil. The sanctions include oil terminals, China\u2019s private refiner Shandong Yulong Petrochemical, 44 tankers transporting Russian oil, and Nayara Energy Limited, a Russian-owned refinery in India.<\/p>\n<p>Investors will closely monitor weekly US inventory data from the Energy Information Administration later on Thursday, following mixed reports from the American Petroleum Institute.<\/p>\n<p>\u2014 Reuters<\/p>\n<p><style>\r\n@keyframes hitl8gak-fadein{from{opacity:0;transform:translateY(14px)}to{opacity:1;transform:translateY(0)}}\r\n@keyframes hitl8gak-slideup{from{opacity:0;transform:translateY(20px)}to{opacity:1;transform:translateY(0)}}\r\n@keyframes hitl8gak-pulse{0%,100%{box-shadow:0 0 14px #dc262688}50%{box-shadow:0 0 32px #dc2626,0 0 60px #dc262655}}\r\n@keyframes hitl8gak-shimmer{0%,100%{opacity:0.3;transform:scaleX(0.4)}50%{opacity:1;transform:scaleX(1)}}\r\n@keyframes hitl8gak-glow{0%,100%{opacity:0.6}50%{opacity:1}}\r\n@keyframes hitl8gak-badge{from{opacity:0;transform:scale(0.8)}to{opacity:1;transform:scale(1)}}\r\n<\/style><style>\r\n.hitl8gakw{container-type:inline-size;width:100%;max-width:970px;margin:0 auto;box-sizing:border-box}\r\n.hitl8gaka{display:flex;flex-direction:row;align-items:center;justify-content:space-between;width:100%;box-sizing:border-box;text-decoration:none;color:#fff;font-family:-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,system-ui,sans-serif;position:relative;overflow:hidden;cursor:pointer;background:linear-gradient(135deg,#111118 0%,#080808 100%);border:1.5px solid rgba(255,255,255,0.08);border-radius:14px;gap:20px;padding:20px 40px;transition:border-color .2s}\r\n.hitl8gaka:hover{border-color:#dc262688}\r\n.hitl8gakg1{position:absolute;inset:0;background:radial-gradient(ellipse at 50% 0%,rgba(220,38,38,0.35),transparent 65%);pointer-events:none;z-index:0}\r\n.hitl8gakg2{position:absolute;bottom:0;left:0;right:0;height:45%;background:radial-gradient(ellipse at 50% 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solid rgba(255,255,255,0.18);backdrop-filter:blur(8px);-webkit-backdrop-filter:blur(8px);border-radius:20px;padding:3px 10px 3px 7px;margin-bottom:clamp(5px,0.6vw,9px);animation:hitl8gak-badge 0.5s ease both;\"><span style=\"display:inline-block;width:6px;height:6px;border-radius:50%;background:#dc2626;flex-shrink:0;\"><\/span><span style=\"font-size:clamp(8px,0.9vw,10px);font-weight:700;letter-spacing:0.07em;color:rgba(255,255,255,0.88);text-transform:uppercase;white-space:nowrap;\">EXCLUSIVE OFFER<\/span><\/div>\r\n    <div class=\"hitl8gakh\" style=\"animation:hitl8gak-slideup 0.7s ease both;animation-delay:0.15s;\">Your Website <span style=\"color:#dc2626;\">Should Sell.<\/span><\/div>\r\n    <div class=\"hitl8gaks\" style=\"animation:hitl8gak-slideup 0.7s ease both;animation-delay:0.3s;\">Custom-built websites with smart automation & AI-powered features.<\/div>\r\n    <div class=\"hitl8gakbl\"><div class=\"hitl8gakbi\"><span style=\"display:inline-block;width:5px;height:5px;border-radius:50%;background:#dc2626;flex-shrink:0;margin-right:7px;\"><\/span><span>SEO-optimized & lightning fast<\/span><\/div><div class=\"hitl8gakbi\"><span style=\"display:inline-block;width:5px;height:5px;border-radius:50%;background:#dc2626;flex-shrink:0;margin-right:7px;\"><\/span><span>Smart features built for your business<\/span><\/div><\/div>\r\n  <\/div>\r\n  \r\n  <div class=\"hitl8gakct\">\r\n    <button class=\"hitl8gakbtn\" style=\"animation:hitl8gak-pulse 2.5s ease-in-out infinite;animation-delay:1s;\">Get Free Consultation <span style=\"opacity:.9;\">\u2192<\/span><\/button>\r\n    <div class=\"hitl8gakbr\">hit.land<\/div>\r\n  <\/div>\r\n<\/a>\r\n<\/div><br \/>\n<\/p>\n<p>Special Analysis by Omanet | Navigate Oman&#8217;s Market<\/p>\n<p>The potential reduction in Indian and possibly Chinese imports of Russian oil signals <strong>a tightening global supply that could support higher oil prices<\/strong>, presenting both opportunities and risks for Oman&#8217;s energy sector. <strong>For Omani businesses and investors, this geopolitical shift underscores the importance of leveraging rising prices while preparing for increased market volatility and evolving trade dynamics.<\/strong> Strategic diversification and strengthening supply chain resilience should be top priorities to capitalize on emerging regional energy alignments.<\/p>\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices rose about 1% after US President Trump said Indian PM Modi pledged to stop buying Russian oil, tightening global supply. Brent crude hit $62.47, WTI $58.85. India, a major Russian oil buyer, aims for stable energy prices, while some refiners plan gradual import cuts.<\/p>\n","protected":false},"author":2,"featured_media":5524,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[482],"tags":[217,328,1064],"class_list":["post-5523","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-india","tag-oil-prices","tag-russia"],"jetpack_featured_media_url":"https:\/\/omanet.om\/wp-content\/uploads\/2025\/10\/3160952.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts\/5523","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/comments?post=5523"}],"version-history":[{"count":1,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts\/5523\/revisions"}],"predecessor-version":[{"id":5525,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts\/5523\/revisions\/5525"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/media\/5524"}],"wp:attachment":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/media?parent=5523"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/categories?post=5523"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/tags?post=5523"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}