Washington: Global oil markets saw a notable rise on Thursday, with Brent crude futures climbing to $62.45 per barrel and U.S. West Texas Intermediate (WTI) futures reaching $58.84. The increase came after U.S. President Donald Trump announced that Indian Prime Minister Narendra Modi had assured him that India would stop purchasing oil from Russia.

India has been one of the largest buyers of Russian oil, accounting for roughly one-third of its imports. While the Indian government has not officially confirmed the commitment, reports suggest that Indian refiners are preparing to gradually reduce their reliance on Russian crude.

U.S. officials, including Treasury Secretary Scott Bessent, noted that Japan is also expected to halt imports of Russian energy, reflecting growing international

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