Account
New to ADSS? Open an
account now to get started.
Already have an account?
Add funds to your ADSS account
Account
New to ADSS? Open an
account now to get started.
Add funds to your ADSS account
News
Friday, October 24, 2025
What’s happening: Crude oil prices rose sharply on Thursday after the US announced sanctions on major Russian producers.
What happened: The US imposed sanctions on oil giants Rosneft and Lukoil to exert more pressure on Russia to end the ongoing war in Ukraine.
China’s state oil majors have also reportedly suspended oil purchases from Russia, which put oil prices on course for their best weekly surge since early June.
Why it matters: Russia was the world’s second-biggest crude oil producer in 2024, after only the US. Sanctions imposed on Russia are expected to significantly impact global crude supply, providing a boost to oil prices.
China’s state oil majors have also announced the suspension of seaborne oil purchases from the two Russian oil giants Rosneft and Lukoil, which are now under sanctions by the US.
The US said it was looking to announce further actions on Russia to force it to immediately announce a ceasefire in Ukraine.
Last week, the UK sanctioned Rosneft and Lukoil, while the European Union announced its 19th package of sanctions on Russia, including a ban on liquefied natural gas.
India’s refiners had become the biggest buyers of discounted seaborne crude from Russia following the war in Ukraine. The US has been pressurising India to cut imports of oil from Russia, saying that this is the only hurdle to the US-India trade agreement.
Reliance Industries, which is India’s largest buyer of Russian crude, may be looking to cut or halt crude imports completely.
Data released on Wednesday showed that US crude oil inventories tumbled by 0.961 million barrels in the week ending October 17, compared to market estimates of a gain of 1.2 million barrels.
Some strength in the US dollar weighed on oil prices, as a higher greenback makes commodities more expensive for foreign currency holders. The US dollar index, which measures the greenback’s performance versus a basket of major peers, edged higher to 98.94 on Thursday.
Brent crude prices jumped $3.40, or 5.4%, to close at $65.99 a barrel on Thursday, while WTI crude climbed $3.29, or 5.6%, to finish at $61.79 a barrel. Both standards of crude recorded their biggest surge in terms of daily percentage since mid-June, while also notching their strongest closes since October 8.
In other commodities trading, natural gas prices fell 2.2% to $3.270, while gasoline edged higher to $1.9272 and heating oil declined around 1% to $2.3511 this morning.
What to watch: Investors will continue monitoring official announcements from China and India regarding their purchases of Russian oil.
Data on Baker Hughes oil rig count (2100 UAE Time) will be released today. Crude oil rigs in the US remained at 418 in the October 17 week, compared to 418 in the previous week.
Context: The Nikkei 225 recovered this morning from the previous session’s losses amid a surge in tech stocks.
Details: Japan’s stocks rose sharply this morning, tracking gains on Wall Street. Equity markets in the US rose on a renewed surge in tech stocks, while market sentiment received a boost after the White House confirmed a meeting between President Donald Trump and Xi Jinping next week.
Meanwhile, data released this morning showed the S&P Global Japan services PMI declined to 52.4 in October, compared to a final reading of 53.3 in the previous month, while the manufacturing PMI fell to 48.3 in October, from 48.5 in September. The figure also missed market estimates of 48.6.
Japan’s annual inflation rate accelerated to 2.9% in September, from August’s 10-month low of 2.7%, driven by a surge in electricity prices and a rebound in gas costs. Japan’s core consumer price index rose 2.9% year-over-year in September, climbing for the first time in four months, but coming in-line with market expectations. Food prices in Japan rose by 6.7% year-over-year in September, easing from 7.2% in the previous month.
The JPY/USD forex pair fell around 0.2% to 152.83, while the Nikkei 225 jumped 1.15% to 49,199.39 this morning.
What to watch: Data on Japan’s unemployment rate, industrial production and retail sales, due to be released next week, will remain in focus. Japan’s unemployment rate, which climbed to 2.6% in August from 2.3% in the previous month, is expected to decline to 2.5% in September.
Analysts expect Japan’s industrial production to rise by 1% in September, following a 1.5% decline in August, while retail sales are projected to grow by 0.3% in September.
Investors also await the Bank of Japan’s interest rate decision on Thursday, with markets widely expecting the central bank to keep rates unchanged.
Other Markets: European indices closed higher on Thursday, with the FTSE 100, DAX 40, CAC 40 and STOXX Europe 600 Index up by 0.67%, 0.23%, 0.23% and 0.37%, respectively.
Ukraine could purchase around 150 Gripen fighter jets from Sweden, with the financing of this procurement coming frozen assets of Russia. The news sent the RUB/USD pair lower in forex trading this morning.
Singapore’s private home prices climbed 0.9% in the third quarter, from the preliminary reading of 1.2%. The latest reading coming in below the 1.0% surge recorded in the previous quarter exerted pressure on the SGD/USD forex pair.
UK’s car production dipped 27% year-over-year to 51,090 units in September. This being the smallest level for the month since 1952 sent the GBP/USD pair lower in forex trading this morning.
Australia’s S&P Global manufacturing PMI declined to 49.7 in October, from 51.4 in the previous month. The region’s factory activity shrinking for the first time after nine straight months of growth exerted pressure on the AUD/USD forex pair.
Argentina’s retail sales surged by 25.1% year-over-year in August, accelerating from July’s 19.6% gain, which sent the ARS/USD pair higher in forex trading this morning.
Eurozone’s HCOB composite PMI (1200 UAE Time), HCOB manufacturing PMI (1200 UAE Time) and HCOB services PMI (1200 UAE Time), UK’s S&P Global manufacturing PMI (1230 UAE Time), S&P Global services PMI (1230 UAE Time) and S&P Global composite PMI (1230 UAE Time), Russia’s interest rate decision (1430 UAE Time), Brazil’s FGV consumer confidence (1500 UAE Time), current account (1530 UAE Time), foreign direct investment (1530 UAE Time) and IPCA mid-month CPI (1600 UAE Time), India’s foreign exchange reserves (1530 UAE Time), as well as US inflation rate (1630 UAE Time), S&P Global composite PMI (1745 UAE Time), S&P Global manufacturing PMI (1745 UAE Time), S&P Global services PMI (1745 UAE Time), Michigan consumer sentiment (1800 UAE Time), Michigan consumer expectations (1800 UAE Time), Michigan current conditions (1800 UAE Time) and Michigan inflation expectations (1800 UAE Time).
ADSS
8th floor, CI Tower
Corniche Road
PO Box 93894
Abu Dhabi
United Arab Emirates
Trading Services
ts@adss.com
+971 2 657 2414
Investing in CFDs involves a high degree of risk that you will lose your money due to the use of leverage, particularly in fast moving markets, where a relatively small movement in the price can lead to a proportionately larger movement in the value of your investment. This can result in loses that exceed the funds in your account. You should consider whether you understand how CFDs work and you should seek independent advice if necessary.
ADS Securities L.L.C – S.P.C (“ADSS”), a limited liability company – sole proprietorship company incorporated under United Arab Emirates law. Registered under Commercial License No.1190047. ADS Securities L.L.C S.P.C is regulated and authorised in the UAE by the Capital Market Authority (CMA) under Category 1 License No.305027 (Trading Broker, Trading and Clearing Broker, Trading Broker in the International Markets, Trading Broker of OTC Derivatives and Currencies in the Spot Market, Financial Products Dealer) and Category 5 License No.20200000217 (Introduction). Registered Office: 8th Floor, CI Tower, Corniche Road, P.O. Box 93894, Abu Dhabi, United Arab Emirates.
The information presented is not directed at residents of any particular country outside the United Arab Emirates and is not intended for distribution to, or use by, any person in any country where the distribution or use is contrary to local law or regulation.
ADSS is an execution only service provider and does not provide advice. ADSS may publish general market commentary from time to time. Where it does, the material published does not constitute advice, or a solicitation, or a recommendation to a transaction in any financial instrument. ADSS accepts no responsibility for any use of the content presented and any consequences of that use. No representation or warranty is given as to the completeness of this information. Anyone acting on the information provided does so at their own risk.
