Oil markets roared back to life after Trump’s sanctions on Russia’s top oil producers sent prices surging. Friday, October 24, 2025Trump’s sanctions on Russia’s top oil firms have cut short the past weeks’ downward pricing movement, with stories of record high crude on water, flattening backwardation curves and weakening Chinese SPR purchases now all put on the back burner. With ICE Brent soaring to $66 per barrel, up $5 per barrel in just one day, Thursday’s rally failed to trigger incremental moves upwards…
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