Reported 14 days ago
Crude oil prices fell sharply on October 16, 2025, reaching a 5.25-month low, driven by an unexpected increase in U.S. crude inventories and record-high production levels. Speculation on continued Russian oil supplies following talks between U.S. President Trump and Russian President Putin also contributed to the price decline. Furthermore, the UK imposed new sanctions on major Russian oil producers that could stabilize prices, while ongoing geopolitical tensions and potential increases in Iraq's crude production raised bearish sentiment in the market.
Source: YAHOO