On September 24, 2025, international oil prices stabilized after experiencing the largest recent increase, with market focus shifting to the potential impact of the escalating Russia-Ukraine conflict on global energy supply. In the week of September 12, OPEC+ slowed its production increase and several member countries implemented compensatory cuts. Additionally, the potential for a second phase of U.S. sanctions against Russia, the U.S. urging the EU to impose higher tariffs to sanction Russia, the Israeli attack on Qatar, and the ongoing Russia-Ukraine conflict, all supported by geopolitical factors, drove oil prices higher. On September 15, the light crude oil futures contract for October delivery on the New York Mercantile Exchange rose by 61 cents to close at $63.30 per barrel, a 0.97% increase, while the Brent crude oil futures contract for November delivery gained 45 cents to close at $67.44 per barrel, a 0.67% increase. By September 24, prices stabilized primarily due to uncertainties surrounding the development of the Russia-Ukraine conflict, as markets assessed its actual impact on energy supply. U.S. President Trump delivered a strong statement at the UN General Assembly, supporting Ukraine and criticizing multiple countries for continuing to purchase Russian energy, which heightened geopolitical tensions but left the extent of its impact on energy supply unclear. Meanwhile, Russia considered imposing diesel export restrictions due to attacks on its energy facilities, a move that could drive up diesel prices and affect crude oil prices, though this remains uncertain. These factors led market participants to adopt a cautious stance, resulting in international oil prices stabilizing after a significant rise.

Author of this news: Ding Shuhan