Stories
Crude Oil Futures Drop 2 Percent on Russian Supply Hopes Amid West Asia Risks
N
News18•13-10-2026, 15:15
Crude Oil Futures Drop 2 Percent on Russian Supply Hopes Amid West Asia Risks
- •Crude oil futures fell Rs 215 to Rs 8,765 per barrel on the Multi Commodity Exchange as prospects of additional Russian diesel supplies eased global supply concerns.
- •US President Donald Trump announced that Russia agreed to supply diesel to global markets while Washington temporarily eases sanctions on Russian fuel.
- •Geopolitical risks persist in West Asia as Houthi-linked attacks and tanker incidents near the Strait of Hormuz continue to threaten energy flows.
- •In global markets, Brent oil futures for December delivery fell 1.43 percent to USD 105.13 per barrel, while West Texas Intermediate dropped nearly 2 percent to USD 92.09 a barrel.
- •Analysts note that the near-term outlook remains volatile but cautiously bullish, with price directions heavily dependent on ongoing geopolitical developments and shipping security.
Key Questions Answered
Crude oil futures fell by about 2 per cent due to expectations of additional Russian diesel supplies and improved export flows, which eased concerns about tight global supplies.
Energy flows remain threatened by persistent geopolitical risks in West Asia, Houthi-linked attacks, and tanker incidents near the Strait of Hormuz.
The near-term outlook remains volatile yet cautiously bullish, with potential escalations possibly driving Brent toward USD 110 per barrel, while diplomatic progress could cap gains.
