{"id":20124,"date":"2025-10-23T02:29:17","date_gmt":"2025-10-23T02:29:17","guid":{"rendered":"http:\/\/tezgyan.com\/index.php\/2025\/10\/23\/oil-prices-extend-gains-rise-2-8-as-us-sanctions-russias-rosneft-lukoil-economy-news\/"},"modified":"2025-10-23T02:29:17","modified_gmt":"2025-10-23T02:29:17","slug":"oil-prices-extend-gains-rise-2-8-as-us-sanctions-russias-rosneft-lukoil-economy-news","status":"publish","type":"post","link":"https:\/\/tezgyan.com\/index.php\/2025\/10\/23\/oil-prices-extend-gains-rise-2-8-as-us-sanctions-russias-rosneft-lukoil-economy-news\/","title":{"rendered":"Oil Prices Extend Gains, Rise 2.8% As US Sanctions Russia’s Rosneft, Lukoil | Economy News"},"content":{"rendered":"


\n<\/p>\n

\n

Last Updated:<\/span>

Brent crude futures are up by $1.76, or 2.81%, at $64.35 by 0041 GMT, and US West Texas Intermediate crude futures rise $1.68, or 2.87%, at $60.18.<\/h2>\n
<\/p>\n
\n
\n
\n
\"font\"<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
\"Crude<\/p>\n

Crude oil prices rise after the US imposed sanctions on Russian oil companies Rosneft and Lukoil over the Ukraine war.<\/p>\n<\/figure>\n

Crude oil prices rose by more than $1 per barrel on Thursday, extending gains from the previous session, after the United States imposed sanctions on Russian oil companies Rosneft and Lukoil over the Ukraine war.<\/p>\n

Brent crude futures were up by $1.76, or 2.81%, at $64.35 by 0041 GMT, and US West Texas Intermediate crude futures were up $1.68, or 2.87%, at $60.18.<\/p>\n

The US said it was prepared to take further action as it called on Moscow to agree immediately to a ceasefire in its war in Ukraine. US President Donald Trump had not previously put sanctions on Russia over the war, relying instead on trade measures.<\/p>\n

\u201cGiven President Putin\u2019s refusal to end this senseless war, Treasury is sanctioning Russia\u2019s two largest oil companies that fund the Kremlin\u2019s war machine,” Treasury Secretary Scott Bessent said in a statement.<\/p>\n

Britain sanctioned Rosneft and Lukoil last week. Separately, EU countries approved a 19th package of sanctions against Russia for the war that includes a ban on imports of Russian LNG.<\/p>\n

\u201cWhile the sanction news has buoyed the crude oil price, the rise thus far has been relatively modest because past sanction\/tariff threats have been diluted or delayed and also by the difficulties of enforcing the sanctions,” said Tony Sycamore, a market analyst at IG.<\/p>\n

Right after the US sanctions were announced, Brent and WTI futures rose by more than $2 a barrel, boosted as well by growing U.S. energy demand.<\/p>\n

Last week, the US called on Japan, also a major buyer of Russian LNG, to halt its energy imports from Russia ahead of Trump\u2019s upcoming visit to Asia and as Washington is increasing pressure on the region to phase out Russian supplies.<\/p>\n

(This story has not been edited by News18 staff and is published from a syndicated news agency feed – Reuters<\/a>)<\/i><\/p>\n

Follow News18 on Google<\/a>. Join the fun, play QIK games on News18<\/a>. Stay updated with all the latest business news, including market trends<\/a>,\u00a0stock updates<\/a>,\u00a0tax<\/a>, IPO,\u00a0banking finance<\/a>, real estate, savings and investments. To Get in-depth analysis, expert opinions, and real-time updates. Also Download the\u00a0News18 App<\/a> to stay updated.<\/span><\/div>\n
First Published:<\/span><\/p>\n
\n

October 23, 2025, 07:46 IST<\/p>\n<\/div>\n<\/div>\n

News<\/a> business<\/a> economy<\/a> Oil Prices Extend Gains, Rise 2.8% As US Sanctions Russia’s Rosneft, Lukoil<\/span><\/div>\n
\n
\n
Disclaimer: Comments reflect users\u2019 views, not News18\u2019s. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use<\/a> and Privacy Policy<\/a>.<\/div>\n<\/div>\n<\/div>\n

Read More<\/span><\/p>\n<\/div>\n


\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Last Updated:October 23, 2025, 07:46 IST Brent crude futures are up by $1.76, or 2.81%, at $64.35 by 0041 GMT, and US West Texas Intermediate crude futures rise $1.68, or 2.87%, at $60.18. Crude oil prices rise after the US imposed sanctions on Russian oil companies Rosneft and Lukoil over the Ukraine war. Crude oil…<\/p>\n","protected":false},"author":1,"featured_media":645,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[45],"tags":[],"class_list":["post-20124","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/posts\/20124","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/comments?post=20124"}],"version-history":[{"count":0,"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/posts\/20124\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/media\/645"}],"wp:attachment":[{"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/media?parent=20124"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/categories?post=20124"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/tags?post=20124"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}