Finding support at 6-month lows of around $56.40 per barrel, WTI has rallied just shy of 8.6% in the last three sessions alone.

As the Trump administration readies to buy 1 million barrels of crude oil, executive Harold Hamm applauds the move as "a good start" to energy and national security independence.

The latest US sanctions targeting the Russian oil industry mark an important shift in the Trump administration’s approach to Russia, while potentially having significant ramifications for the oil market. How impactful this will be on oil prices depends on how effective these sanctions are in deterring refiners from buying Russian oil

Understand the repercussions of US sanctions on Russian oil giants Rosneft and Lukoil on global oil prices, India's imports, and OPEC+ strategies. Learn about the potential impact on energy markets and geopolitical tensions.

In a separate interview, the envoy also said he believed Russia, the United States, and Ukraine are nearing a diplomatic breakthrough to end the war in Ukraine.

Reliance Industries Ltd , the top Indian buyer of Russian oil, will abide by Western sanctions against Moscow while maintaining its relationship with current oil suppliers, its spokesperson said in a statement.