Oil Prices Fall After Recent Spike, Still Set for Weekly Increase Due to Supply Concerns

Written by Emily J. Thompson, Senior Investment Analyst

Source: Reuters

Updated: Oct 24 2025

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Source: Reuters

Oil Price Movement: Oil prices dipped slightly after a significant surge, with Brent crude at $65.63 and U.S. West Texas Intermediate at $61.43, while still on track for a weekly gain of about 7%.
Impact of U.S. Sanctions: New U.S. sanctions on Russian oil companies Rosneft and Lukoil have raised supply concerns, leading to a temporary suspension of Russian oil purchases by Chinese state oil majors and a reduction in imports by Indian refiners.
Market Reactions: Analysts suggest the market is in a "wait-and-watch" mode regarding Russian supply, with expectations leaning towards a potential de-escalation of tensions rather than an escalation.
Geopolitical Context: The sanctions come amid ongoing geopolitical tensions, with a planned meeting between U.S. President Trump and Chinese President Xi Jinping next week, which may help ease trade tensions between the two nations.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.