- October 2, 2025
- 2:11 pm
- World News
On the morning of October 2, 2025, oil prices began to rise after falling to their lowest levels in five months, due to the threat of sanctions against buyers of Russian oil from the G7 countries, reports Reuters.
According to the Investing portal, as of 10:32 Kyiv time, Brent crude oil rose by 17 cents, reaching $65.52 per barrel. American WTI crude oil also increased in price by 19 cents, amounting to $61.97 per barrel.
On October 1, G7 finance ministers announced plans to increase pressure on Russia, targeting those who continue to buy Russian oil and circumvent existing sanctions.
American officials confirmed information that the US is ready to provide Ukraine with intelligence data to support its strikes on Russian energy infrastructure. These actions, as noted, help prevent further declines in oil prices.
Additionally, traders point to increased demand from China, the world’s largest oil importer, as a factor supporting prices.
According to some analysts, the revival of prices is explained by a technical recovery after the price decline that occurred on October 1. Prices are supported by increased geopolitical risks and expectations of strengthened sanctions against Russia.
At the same time, according to experts, price growth is also influenced by expectations of subsequent increases in oil production by OPEC+ countries. In addition, instability in the American government raises concerns about the state of the global economy.
Recently, the US Energy Information Administration reported that stocks of oil, gasoline, and distillates have increased, indicating a decline in activity in the refining industry. In particular, crude oil stocks increased by 1.8 million barrels, reaching a level of 416.5 million barrels.
Oil Prices and Ukrainian Strikes on Russia
Oil prices on September 30 continued to fall amid the agreement between Israel and the US on a plan to end the conflict in Gaza.
Ukrainian attacks on Russia’s energy infrastructure, although significantly reducing the resources of the aggressor country, contribute to rising oil prices or prevent their further decline. On September 27, Ukrainian drones attacked an oil pumping station in the Chuvash Republic of Russia, leading to its suspension.
The previous day, Ukrainian drones also struck the Afipsky oil refinery in the Krasnodar region, resulting in a fire at one of the installations.
According to calculations by the “Siala” agency, as of September 28, 38% of the capacities of Russian oil refineries for primary oil processing were idle, which amounts to about 338 thousand tons of raw materials per day.
