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Oil Market Outlook
Bangkok Post
|November 17, 2025
Oil prices rallied late last week after Ukraine attacked a key Russian oil port as part of an intensified campaign to reduce the revenue that supports Moscow's war efforts. Russia's energy-sector revenue in October reportedly fell 24% year-on-year.
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Meanwhile, US-India tensions are easing as President Trump moves closer to an agreement to reduce tariffs after Delhi reduced oil imports from Russia, aligning with Washington's efforts to pressure Russia to return to the peace negotiation table.
West Texas Intermediate crude fell 7 cents on the week to close at $59.62 per barrel. Brent declined 55 cents to $63.71. Thaioil forecasts WTI and Brent this week will trade between $60 and $70. Among the factors expected to influence trade:
This story is from the November 17, 2025 edition of Bangkok Post.
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