Crude oil futures declined on Friday morning following comments from US President Donald Trump regarding peace efforts in the aftermath of the Russia-Ukraine conflict. As of 9:57 AM on Friday, November Brent oil futures were priced at $67.29, representing a decrease of 0.22%. Meanwhile, October crude oil futures for West Texas Intermediate (WTI) fell by 0.31% to $63.37. In commodities trading, September crude oil futures were reported at ₹5,593 on the Multi Commodity Exchange (MCX), a slight increase from the previous close of ₹5,591, up by 0.04%. October futures also rose, trading at ₹5,585 compared to the previous close of ₹5,583, marking an increase of 0.04%.
In an interview with Fox News on Thursday, President Trump expressed optimism about securing peace after the resolution of the Ukraine conflict, stating, “After the war is settled, we would help secure the peace. And I think ultimately that’ll happen.” He noted that efforts to end the war had proven more difficult than he had initially expected, commenting, “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.” Trump suggested that reducing European purchases of Russian oil could play a role in achieving a resolution.
The market was also influenced by recent data from the US Energy Information Administration (EIA), which reported an increase in US distillate fuel inventories by 4 million barrels for the week ending September 12. Total commercial petroleum inventories rose by 1.2 million barrels during the same period.
In agricultural commodities, September mentha oil futures traded at ₹987.30 on MCX during the initial hour of trading, a decrease of 0.42% from the previous close of ₹991.50. On the National Commodities and Derivatives Exchange (NCDEX), September cottonseed oilcake contracts were at ₹3,070, up by 2.20% from the previous close of ₹3,004. Conversely, October castorseed futures were trading at ₹6,602, down by 0.27% from the previous close of ₹6,620.
Published on September 19, 2025.
