Investors take profits following the lifting of US sanctions against the RF
Oil prices corrected on October 19 after hitting multi-month highs. The trend is driven by Donald Trump's decision to cancel several restrictions and tariffs against the Russian Federation. This was reported by Delo.ua citing Reuters, according to the portal PromPolitInform.
On Monday, oil futures quotes showed a decline, retreating from the peak levels observed over the past five months. Brent fell by 2.08% to $107.57 per barrel, while US WTI crude lost 1.92%, reaching a price of $99.46 per barrel. Russian Urals crude also showed a negative trend, decreasing in price by 2.76% to $114.89 per barrel.
The impact of US decisions on the energy market
The current correction is attributed to profit-taking by investors following news of the cancellation of key economic sanctions and tariff barriers against the RF, initiated by Donald Trump. Secretary of State Marco Rubio noted that the administration will use the next 60 days to conduct a detailed analysis of the impact of these measures on global economic stability.
According to experts, this step has created additional uncertainty, as it does not address underlying logistical problems related to energy supply disruptions. Market participants are cautiously assessing the likely increase in supply, awaiting clarification on the details and timelines for the implementation of US policy.
The situation in the Middle East
A key factor continuing to exert pressure on the market remains the tension in the Middle East, where Brent prices previously reached $110 per barrel. According to data from Kpler, increased attacks on commercial vessels in the Strait of Hormuz have significantly reduced crude oil export volumes.
Analysts from the DBS banking group forecast that oil prices will fluctuate within the $100–110 per barrel range until the US elections. Maintaining high fuel prices remains a highly sensitive issue for American voters, so pressure on shipping routes is likely to continue.
Photo: Delo.ua
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