WTI oil slides below $97 as Trump?s Russia move sparks supply hopes

WTI crude oil futures tumbled more than 2% to below $97 per barrel on Monday as US President Donald Trump?s decision to ease several sanctions on Russia and waive proposed tariffs on Russian oil buyers fuelled hopes of additional global supplies. The pullback followed a nearly 8% surge last week, driven by persistent supply disruptions in the Middle East. Meanwhile, stronger-than-expected Chinese GDP growth of 4.5% in Q3, alongside firmer industrial output and retail sales, offered a modest cushion against the decline. On the domestic front, MCX crude oil futures slipped 1.7% to Rs 9,237 per barrel, trimming some of last week?s 6.5% advance.

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