Oil markets react sharply as Trump’s sanctions on Russian companies send crude prices soaring and investors weigh global trade hopes.
Oil Prices Surge as Trump Targets Russian Oil Giants with Heavy Sanctions
Global oil markets witnessed a sharp spike of over 2% on Thursday after U.S. President Donald Trump announced plans to impose heavy sanctions on two major Russian oil companies.
The move, which immediately sent crude prices soaring, marks a significant escalation in Washington’s efforts to pressure Moscow economically. Analysts say the sanctions could tighten global supply chains and further destabilize energy markets already reeling from geopolitical tensions.
Meanwhile, renewed U.S.-China economic optimism helped lift global stocks, as investors balanced the sanctions shock with hopes of improved trade cooperation between the world’s two largest economies.
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