MNI Oil Weekly: U.S. Trying to Force EU Sanctions on Russia

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Executive Summary:

• U.S. Trying to Force EU Sanctions on Russia: Trumps oil threats on Russia keep getting kicked back. Markets still wait for his next proposed meeting with Putin while Washington aims to draw in Europe as part of the next sanctions measures.
• Oil Markets: Crude oil prices have fallen back from a high of just over $69.5/bbl last week with rising OPEC+ supply and demand uncertainty after Saudi Arabia cut most OSPs for October. Market surplus risks for 2026 are set against the potential for new sanctions on Russia.
• Analyst Views: See oil market views and outlooks from key industry names.