WTI crude rebounds to $59 as India signals cut in Russian oil imports

WTI crude futures climbed toward $59 per barrel on Thursday, recovering from a five-month low after US President Donald Trump said Indian Prime Minister Narendra Modi assured him that New Delhi would halt purchases of Russian oil. The move eased concerns over excess supply, partly offsetting bearish sentiment from the IEA?s projection of a global surplus by 2026. However, upside remained limited as US crude inventories surged by 7.4 million barrels last week, the largest rise since July. On MCX, October futures gained nearly 1% to ₹5191 per barrel.

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