Crude Oil Prices Jump as Trump’s Warning to Russian Giants Rattles Markets

On October 23, 2025, global oil prices shot up after U.S. President Donald Trump issued a strong warning to Russia’s biggest oil companies, Rosneft and Lukoil. His message was clear: stop funding the war in Ukraine or face tougher sanctions. Within hours, Brent crude rose nearly 4%, shaking markets from New York to Tokyo. Traders rushed to secure supply, fearing new limits on Russian exports, one of the world’s largest oil sources.