September 10, 2025
Concerns about potential supply interruptions caused by rising geopolitical tensions in the Middle East and the possibility of more stringent US sanctions on Russian oil, triggered increase in Oil prices in the global commodities markets on Wednesday.
Brent crude was up by 0.7% trading at $66.85 per barrel, from the previous close of $66.38. Similarly, US benchmark West Texas Intermediate, WTI, rose 0.7% to $62.95.
The rise is aftermath of Israeli airstrikes on senior Hamas leaders in Doha, a move condemned by Qatar as “treacherous” and “state terrorism.”
Qatar, Egypt and the US, have been mediating a Gaza cease-fire after Israel’s war killed more than 64,000 Palestinians since October 2023.
READ MORE; Oil Prices Continue To Rise Amidst Red Sea Vessel Attack.
Geopolitical risks added to market fesrs after Russia launched its largest aerial assault on Ukraine since the start of the war, setting fire to a government building in Kyiv.
Trade tensions between the US and India have persisted even as Trump on Tuesday announced that negotiations is continuing to address barriers between the two countries, following Washington’s decision in August to impose tariffs of up to 50% on Indian imports in retaliation for New Delhi’s continued purchases of Russian oil.
Investors turned their attention to US inventory data, which pointed to weaker demand.
The American Petroleum Institute reported a crude stock build of 1.25 million barrels for the week ending September 5, compared with expectations for a 622,000-barrel rise.
READ MORE; Oil Prices Increased Over Supply Concerns Following Attack On Russia Energy Infrastructure.
Likelihood of new sanctions on Russia further supported prices after Moscow launched its largest air assault on Ukraine since the war began, setting fire to a government building in Kyiv.
US President Donald Trump, had on Sunday said he is prepared to implement a new phase of sanctions following the overnight attacks that killed four people and injured dozens.
The European Union’s sanctions envoy was also in Washington to discuss further measures with US officials.
Market watchers have predicted that additional restrictions could further tighten Russian crude supplies and trigger hike in oil prices.
