Oil prices rebound ahead of U.S. sanctions deadline

November 20, 2025 (MLN): Oil prices inched upward on Thursday, rebounding from the prior session’s decline. Traders assessed new U.S. initiatives aimed at resolving the ongoing conflict in Ukraine.

Markets also prepared for an upcoming American deadline that will restrict dealings with two major Russian oil companies, adding further support to crude prices.

Brent crude futures went down by $0.23, or 0.36%, to $63.74 per barrel.

West Texas Intermediate (WTI) crude futures decreased by $0.22, or 0.37%, to $59.66 per barrel by [10:40 pm] PST.

The proposed framework from Washington suggests that Ukraine could consider concessions on territory and certain weapons as part of efforts to resolve the war with Russia, as per CNBC reported.

At the same time, the U.S. has imposed sanctions on Rosneft and Lukoil, Russia’s two largest oil producers and exporters, with a November 21 deadline for companies to wind down operations.

In a strategic move to limit exposure to U.S. restrictions, Rosneft reduced its stake in the Kurdistan Pipeline Company, the main oil-exporting pipeline in Iraqi Kurdistan, to below 50%.

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