TRUMP WITHDRAWS SANCTIONS AGAINST RUSSIA: Oil Prices Immediately Fall to Their Lowest Level in Five Months!

Oil prices continued to fall today after U.S. President Donald Trump abandoned the implementation of new sanctions against Russia that were due to take effect, fueling expectations of a possible increase in energy supplies on the global market.

According to Reuters, the price of Brent crude fell by 1.8 percent to $107.88 per barrel, while U.S. West Texas Intermediate (WTI) crude dropped by 1.14 percent to $100.25.

On Friday, October 16, Trump signed an executive order temporarily exempting a range of sanctions and tariff measures предусмотрed under a new U.S. law targeting Russia and Iran. The decision was made just days before the measures were due to take effect, and markets were encouraged by the possibility that additional quantities of Russian energy supplies could reach the global market.

The price drop followed a brief rise in Brent crude to $110 per barrel on Friday, its first time reaching that level since May. The previous increase had been driven by tensions in the Middle East and fears of supply disruptions, particularly due to attacks on ships and difficulties transporting oil through the Strait of Hormuz.

Nevertheless, uncertainty over further developments in the Middle East and the duration of the U.S. exemptions from sanctions continues to weigh on the market. Analysts warn that short-term political decisions could ease upward pressure on prices but may not resolve problems affecting global supply.