Oil slips as Trump’s sanction waiver may lead to more Russian fuel supplies
Brent crude futures experienced a decline of US$1.06, or 0.96%, to US$108.80 a barrel in early Asian trade on Monday (Oct 19), as reported by Reuters. The drop came after US President Donald Trump waived sanctions and tariffs on Russia, which could potentially result in more Russian fuel exports. Brent crude had previously reached its highest level since May 19 on Friday, settling at US$108.80 a barrel. Meanwhile, US West Texas Intermediate crude settled at US$101.18 a barrel, marking a decrease of US$0.23, or 0.23%.
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- Indian refiners' fuel exports to the West jump 43% as they keep processing Russian crude thehindubusinessline.com
- Oil slips as Trump's sanction waiver may lead to more Russian fuel supplies businesstimes.com.sg
