Oil prices surge as US sanctions hit Russia's Rosneft and Lukoil

Oil prices have surged following the United States" sanctions on Russia"s Rosneft and Lukoil, as well as a pause in purchases of Russian seaborne oil by Chinese energy companies. As of October 23, 2025, Brent Crude has increased by 4.9%, while West Texas Intermediate (WTI) has risen by 5.5%. Additionally, UAE"s Murban crude oil has seen a rise of 4.0%. The FTSE 100 index has reached an all-time high amid these developments.

For more information on related coverage, see Putin says new sanctions will not significantly affect Russia"s economy.

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