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Indonesia News Portal for Traders | Financial & Business Updates

16 October 2025 14:32  |

India Stops Buying Russian Oil!

Oil prices rose after US President Donald Trump announced that India would stop buying oil from Russia. This move is expected to tighten global supply, pushing Brent to $62 and WTI to near $59 per barrel.

Although there has been no official confirmation from India, the market immediately reacted. Furthermore, US oil stocks jumped by 7.4 million barrels, but geopolitical sentiment remains the main driver of the current price increase. (asd)

 

Brent oil price at the time of writing was $62.19

- Buy if the price moves within $62.29

- Sell if the price moves within $62.09

 

Resistance 2: $63.49

Resistance 1: $62.39

 

Support 1: $61.99

Support 2: $61.89

Disclaimer:

This article is analytical and is not a definitive reference. Consider fundamental and technical developments in trading before making investment decisions.(asd)

Source: Newsmaker.id

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