Crude Oil prices stay under pressure as the US hints that India may stop buying Russian crude. Here’s how global politics and trade tensions could impact West Texas Intermediate (WTI) prices.
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WTI Oil Prices Under Pressure
WTI crude oil continues to move downward, showing weakness in the global oil market. Several political developments across the world are adding pressure — from India’s oil decisions to rising tensions between major countries like the US, Russia, China, and Venezuela.
Will India Really Stop Buying Russian Oil?
A recent statement by former US President Donald Trump has created a buzz. He claimed that Indian Prime Minister Narendra Modi promised to stop buying oil from Russia.
Trump said, “I was not happy that India was buying oil, and he assured me today that they will not be buying oil from Russia.”
This claim, if true, could affect global oil prices. India is one of the biggest buyers of Russian crude. If India stops importing, it could reduce supply in the world market, possibly lifting prices.
However, India has not confirmed Trump’s statement. New Delhi’s silence leaves everyone wondering — is India really planning to cut Russian oil or just playing a diplomatic balancing act?
Experts say India may reduce some Russian oil purchases to ease pressure from the US, but a complete stop seems unlikely. With Russia’s large “shadow fleet” of tankers, oil could still reach India indirectly.
So, for now, it’s a wait-and-watch situation. If India slows down imports, prices may rise. If not, oil may continue trading as usual.
Tensions Rise Between the US and Venezuela
The US-Venezuela relationship is also heating up again. Trump recently confirmed that he had authorized CIA operations in Venezuela. He claimed it was due to drug issues and because Venezuelan criminals had allegedly entered the US.
While no official talk of regime change has been made, analysts believe this could be a step toward stronger US involvement in the region.
If military conflict breaks out, neighboring Guyana — a growing oil producer — could also get pulled in. Any instability in this oil-rich zone might support oil prices globally.
US-China Trade Battle Hits Shipping
The trade fight between the US and China has now moved to the shipping industry.
The US started charging Chinese ships $50 per net tonne of goods entering American ports, while China responded with a similar charge of 400 yuan (around $56) per tonne.
This back-and-forth could increase global shipping costs, slow down manufacturing, and reduce oil demand if it continues for long. Lower industrial activity usually means less need for crude oil, which could push prices down.
Technical View: WTI Outlook
From a technical point of view, WTI crude remains weak on daily charts. Unless prices break above key resistance levels, downward pressure may continue in the short term.
❓ FAQs
1. Why is India’s Russian oil import issue important?
Because India is a major oil buyer. Any change in its oil sourcing directly impacts global crude prices.
2. Will India actually stop buying Russian oil?
Unlikely in the near term. India may reduce purchases slightly but is expected to maintain ties with Russia due to cost advantages.
3. How can global tensions affect oil prices?
Conflicts or sanctions can disrupt oil supply, while trade wars can reduce demand — both heavily influence prices.
4. What is the short-term WTI outlook?
WTI remains under selling pressure. A clear direction may come only if global tensions ease or demand picks up again.