Reported 15 days ago
Oil prices fell to a five-month low as President Trump announced a meeting with President Putin to discuss the ongoing war in Ukraine, raising hopes for a potential truce and an increase in Russian crude supply. Despite initial expectations that India would cease buying Russian oil, Indian refiners indicated they would only reduce purchases. This situation is compounded by the tightening of sanctions on Russia's energy sector by Western nations and concerns about oil demand due to trade tensions between the US and China.
Source: YAHOO