Russia’s flagship Urals crude oil slumped to about $34 a barrel amid ballooning discounts in a signal that US sanctions are hurting Moscow https://t.co/ktxOjp8WOg ...

Market Impact - US sanctions on Russia are about to jeopardize 2% of global oil production [1] - The market is not panicking despite the potential disruption [1]

Group 1 - Oil prices have steadied as investors assess the impact of an emerging surplus against US sanctions on Russia, with Brent trading near $64 a barrel [1] - Russia's flagship crude price has dropped to its lowest level in over two years, coinciding with impending US sanctions on major producers Rosneft PJSC and Lukoil PJSC, while significant Asian buyers have paused some purchases [1] - The International Energy Agency forecasts a record surplus in 2026, driven by the return of idled output from OPEC and its allies, along with increased production from outside the group [2] Group 2 - Despite weak sentiment in financial markets, the oil market is supported by geopolitical uncertainty and sanctions, according to Arne Lohmann Rasmussen, chief analyst at A/S Global Risk Management [2] - US President Donald Trump has not ruled out sending troops to Venezuela, while also expressing willingness to engage in dialogue with its leader, Nicolas Maduro, amidst a growing US military presence near the OPEC nation [3]

Indian Oil is seeking as much as 24 million barrels of crude from the Americas in the first quarter of next year as it girds itself for a hit to Russian supply after the latest round of US sanctions https://t.co/6erGqkpkJH ...

Oil Production & Supply - OPEC is prepared to increase oil production if demand requires it [1] Geopolitical Factors & Market Impact - New US sanctions on Russia sent oil prices rallying [1]