Oil prices stabilized as investors grappled with the dual challenges of an emerging surplus and the ongoing US sanctions on Russia, which have disrupted certain crude oil flows. The market’s delicate balance was further emphasized by the recent plunge in the price of Russia’s flagship crude, which has dropped to its lowest level in over two years. This dramatic decline occurred just days before the US sanctions were set to impact major Russian producers, Rosneft PJSC and Lukoil PJSC, according to a Bloomberg report (https://www.bloomberg.com/news/articles/2025-11-17/russian-oil-plunges-with-top-producers-days-away-from-sanctions). The Brent crude oil price hovered around $64 per barrel, recovering from a modest loss in the previous trading session, while West Texas Intermediate (WTI) prices remained below the $60 mark. This situation underscores the complex interplay between global oil supply and demand, as well as the geopolitical tensions that can significantly influence oil prices.