World oil price today September 27, 2025: Strongest increase in three months
World oil prices today September 27, 2025: World oil prices increased by more than 4% last week, due to escalating Russia-Ukraine tensions and Moscow's tightening of fuel exports.
Brent crude rose 23 cents to $69.65 a barrel on September 27, while U.S. West Texas Intermediate (WTI) crude rose 33 cents to $65.31 a barrel. Both are poised for their biggest weekly gains since mid-June.
Ukraine drone attacks have forced Russia to impose a partial ban on diesel exports until the end of the year and extend a ban on gasoline exports.
The reduction in oil refining capacity has caused fuel shortages in many regions of Russia and put upward pressure on prices on the global market.
NATO has warned it will take retaliatory action against Russia, raising the risk of wider conflict and the possibility of the West imposing further sanctions on Russia's oil industry.
On the other hand, supply could be supplemented as the Kurdistan region (Iraq) is expected to resume oil exports to Türkiye over the weekend.
On the demand side, the latest report from the US Department of Commerce showed that GDP last quarter increased by 3.8% year-on-year, higher than forecast. This positive economic data has investors predicting that the Federal Reserve (Fed) will be more cautious in continuing to lower interest rates, after the first cut last week. This development may indirectly affect oil prices in the coming sessions.
