17 September (Argus) — Ice Brent crude futures were slightly lower in early Asian trading hours, as the US and India resumed trade talks.
At 04:00 GMT, the Ice front-month November Brent contract was at $68.34/bl, lower by 13¢/bl from its settlement on 16 September, when the contract ended $1.03/bl higher.
The Nymex front-month October crude contract was at $64.40/bl, down by 12¢/bl from its settlement on 16 September, when the contract ended $1.22/bl higher.
US president Donald Trump praised India's prime minister Narendra Modi on 16 September in a sign of improving relations, as officials from both sides met in New Delhi for trade talks.
"Thank you for your support on ending the war between Russia and Ukraine!" Trump said in a social media post, adding that Modi was doing a "tremendous job".
The two countries have clashed over India's imports of Russian oil. Trump has already imposed a 50pc tariff on India, ostensibly as a penalty for Indian purchases of Russian crude.
A sanctioned vessel appears to have discharged its cargo of Russian Urals crude at India's privately owned Mundra port, despite operator Adani announcing a ban on sanctioned vessels on 10 September.
Another vessel sanctioned by the EU and the UK, but not the US — the Noble Walker — carrying 718,000 bl of Urals has changed its course to India's Vadinar port, after previously indicating discharge at Mundra.
Among other sanctioned entities, the Sea Jewel carrying 742,300 bl of Russian Urals is also on its way to Adani's Mundra port by 2 October, Vortexa data show. It remains to be seen if the vessel will be diverted to another terminal.
The EU could accelerate the planned phase-out of Russian fossil fuel imports, European Commission president Ursula von der Leyen said on 16 September, after Trump complained that some EU and NATO members still import Russian crude and gas.
The EU already has set a deadline of 1 January 2028 for phasing out the remaining imports of Russian crude, natural gas and LNG, after a fierce debate that involved overcoming opposition from Hungary and Slovakia. The two countries import Russian crude via the Druzhba pipeline and also depend on Russian pipeline gas deliveries.
Von der Leyen said via a social media post that she spoke with Trump to discuss "strengthening our joint efforts to increase economic pressure on Russia through additional measures." To achieve that objective, the European Commission "will propose speeding up the phase-out of Russian fossil imports," von der Leyen said.
Elsewhere, the Israeli military carried out 12 airstrikes on the Yemen port of Hodeidah targeting three of the port's loading platforms allegedly used by the Houthi militant group, warning that the strikes will continue.
17 September (Argus) — Ice Brent crude futures were slightly lower in early Asian trading hours, as the US and India resumed trade talks.
At 04:00 GMT, the Ice front-month November Brent contract was at $68.34/bl, lower by 13¢/bl from its settlement on 16 September, when the contract ended $1.03/bl higher.
The Nymex front-month October crude contract was at $64.40/bl, down by 12¢/bl from its settlement on 16 September, when the contract ended $1.22/bl higher.
US president Donald Trump praised India's prime minister Narendra Modi on 16 September in a sign of improving relations, as officials from both sides met in New Delhi for trade talks.
"Thank you for your support on ending the war between Russia and Ukraine!" Trump said in a social media post, adding that Modi was doing a "tremendous job".
The two countries have clashed over India's imports of Russian oil. Trump has already imposed a 50pc tariff on India, ostensibly as a penalty for Indian purchases of Russian crude.
A sanctioned vessel appears to have discharged its cargo of Russian Urals crude at India's privately owned Mundra port, despite operator Adani announcing a ban on sanctioned vessels on 10 September.
Another vessel sanctioned by the EU and the UK, but not the US — the Noble Walker — carrying 718,000 bl of Urals has changed its course to India's Vadinar port, after previously indicating discharge at Mundra.
Among other sanctioned entities, the Sea Jewel carrying 742,300 bl of Russian Urals is also on its way to Adani's Mundra port by 2 October, Vortexa data show. It remains to be seen if the vessel will be diverted to another terminal.
The EU could accelerate the planned phase-out of Russian fossil fuel imports, European Commission president Ursula von der Leyen said on 16 September, after Trump complained that some EU and NATO members still import Russian crude and gas.
The EU already has set a deadline of 1 January 2028 for phasing out the remaining imports of Russian crude, natural gas and LNG, after a fierce debate that involved overcoming opposition from Hungary and Slovakia. The two countries import Russian crude via the Druzhba pipeline and also depend on Russian pipeline gas deliveries.
Von der Leyen said via a social media post that she spoke with Trump to discuss "strengthening our joint efforts to increase economic pressure on Russia through additional measures." To achieve that objective, the European Commission "will propose speeding up the phase-out of Russian fossil imports," von der Leyen said.
Elsewhere, the Israeli military carried out 12 airstrikes on the Yemen port of Hodeidah targeting three of the port's loading platforms allegedly used by the Houthi militant group, warning that the strikes will continue.
By YouLiang Chay