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Oil Prices Dip on Potential Increase in Russian Fuel
19 Oct
Summary
- Oil prices declined in early Asian trade on Monday.
- US President waived sanctions and tariffs on Russia.
- The move could lead to increased Russian fuel exports.
Oil prices saw a decline in early Asian trading on Monday, October 19, 2026. This shift occurred shortly after US President Donald Trump announced a waiver of sanctions and tariffs previously imposed on Russia.
The market is reacting to the potential for increased fuel exports from Russia as a result of this policy change. Brent crude futures fell by $1.06, or 0.96%, to $108.80 a barrel. This occurred after Brent crude had settled at its highest point since May 19 on the preceding Friday.
West Texas Intermediate (WTI) crude also experienced a slight decrease. It was trading at $101.18 a barrel, down 23 cents or 0.23%. The market will continue to monitor the impact of the waived sanctions on global fuel supply dynamics.
