West Texas Intermediate (WTI) futures opened at $58.90 per barrel (bbl) on October 13, 2025. Brent crude opened at $62.73 per barrel. Both benchmarks remain closely watched gauges of global energy supply and demand.

Oil futures extended losses, giving up early gains made after President Trump said India will stop buying oil from Russia, as market concerns about oversupply remain a burden on prices.

NEW DELHI/SINGAPORE (Reuters) -Two Indian refiners have bought 4 million barrels of Guyanese crude oil from U.S. major Exxon Mobil to be delivered at end-2025 or in early 2026, in their first imports from the South American producer, trade sources said on Friday.

The oil market is also digesting the latest U.S. government supply and demand data that showed crude oil stocks rose by 3.5 million bbl in the week ended Friday. The Energy Information Administration also estimated domestic distillate stocks fell last week by 4.5 million bbl, while gasoline holdings slipped by 300,000 bbl.

The shadow fleet of unmarked tankers evading international sanctions to deliver Russian crude to India and China is straining trade talks.

Around 13% of the global crude tanker fleet could be affected, with VLCC rates on the Middle East–China route surging and a two-tier market emerging between China-compliant and non-compliant vessels.

The crude oil market continues to see a lot of noise, as we are sitting on a potential floor in the market, but we continue to see a lot of downward pressures at times. Demand and oversupply are issue

India's state-owned Oil and Natural Gas Corporation plans to establish a dedicated trading company for crude oil