Crude oil futures traded lower on Friday morning after the US President said his country would help secure peace once the Russia-Ukraine war is settled.
At 9.57 am on Friday, November Brent oil futures were at $67.29, down by 0.22 per cent, and October crude oil futures on WTI (West Texas Intermediate) were at $63.37, down by 0.31 per cent. September crude oil futures were trading at ₹5,593 on Multi Commodity Exchange (MCX) during the initial hour of trading on Friday against the previous close of ₹5,591, up by 0.04 per cent, and October futures were trading at ₹5,585 against the previous close of ₹5,583, up by 0.04 per cent.
In an interview with Fox News on Thursday, Trump said: “After the war is settled, we would help secure the peace. And I think ultimately that’ll happen.”
Stating that helping to bring about an end to Russia-Ukraine war had been more challenging than he anticipated, Trump said: “The one I thought was going to be easiest was going to be Russia-Ukraine, because of my relationship with President Putin. So I’m disappointed.”
Hoping that there would be a solution to the conflict, he said one of the ways to get there was for Europe to stop buying Russian oil.
Meanwhile, the recent official data on US distillate stockpiles also impacted the price of the commodity.
According to the US EIA (Energy Information Administration), US distillate fuel inventories increased by 4 million barrels for the week ending September 12, and total commercial petroleum inventories increased by 1.2 million barrels during the period.
September menthaoil futures were trading at ₹987.30 on MCX during the initial hour of trading on Friday against the previous close of ₹991.50, down by 0.42 per cent.
On the National Commodities and Derivatives Exchange (NCDEX), September cottonseed oilcake contracts were trading at ₹3,070 in the initial hour of trading on Friday against the previous close of ₹3,004, up by 2.20 per cent.
October castorseed futures were trading at ₹6,602 on NCDEX in the initial hour of trading on Friday against the previous close of ₹6,620, down by 0.27 per cent.
Published on September 19, 2025