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US and EU sanctions on Russian oil companies pushed oil prices sharply higher, raising concerns about pump prices. The article also notes OPEC+ countries continuing to raise output, with another increase of 137,000 barrels per day announced for November.
Sanctions-driven crude gains are partly offset by OPEC+ supply increases, so the net crude price impact is less certain. Energy costs for feed producers and transport depend on which force dominates.
apnews.comMatt OttOct 23, 2025After 656 past bullish geopolitics events, Crude Oil (Brent) moved a median +1.9% over 5 sessions (63% higher; middle half -2.7% to +6.6%), and +0.7% over 20.
After 626 past bullish geopolitics events, Crude Oil (WTI) moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Notes US and EU sanctions spiking oil prices, though the OPEC+ output increase is a partial offset.
