Crude oil futures rose on Monday morning following a change in stance from U.S. President Donald Trump regarding tariffs on China.
As of 9:56 AM ET, December Brent oil futures were trading at $63.60, an increase of 1.39 percent, while November West Texas Intermediate (WTI) crude futures were at $59.74, up by 1.43 percent. In India, October crude oil futures were priced at ₹5,309 on the Multi Commodity Exchange (MCX), up 1.20 percent from the previous close of ₹5,246. November futures were trading at ₹5,299, compared to the previous close of ₹5,238, marking a rise of 1.16 percent.
In a post on the social media platform Truth Social, Trump emphasized optimism about U.S.-China relations, stating, “Don’t worry about China, it will all be fine! Highly respected President Xi just had a bad moment. He doesn’t want Depression for his country, and neither do I. The U.S.A. wants to help China, not hurt it!”
This change in tone follows Trump’s earlier threats of imposing a 100 percent tariff on China, which he communicated two days prior. In a post on Friday, he claimed that China had taken “an extraordinarily aggressive position on Trade” and mentioned plans for large-scale export controls effective November 1, 2025. Trump described such actions as unprecedented in international trade and announced that the U.S. would impose a 100 percent tariff, alongside export controls on crucial software, if China’s position did not change.
The announcement had previously caused crude oil futures to fall nearly 4 percent on Friday, as markets reacted to fears that escalating trade tensions could impact global demand for crude oil and other commodities.
Additionally, in the commodities market, October cardamom futures were trading at ₹2,620 on MCX, an increase of 3.80 percent from the previous close of ₹2,524. On the National Commodities and Derivatives Exchange (NCDEX), October turmeric contracts were at ₹12,260, up 1.11 percent from the prior close of ₹12,126. Conversely, October jeera futures were trading at ₹18,780 on NCDEX, showing a decline of 0.58 percent from the previous close of ₹18,890.
Published on October 13, 2025.
