The post US Treasury Sec. Bessent says he expects a rebalancing soon, where India buys less Russian oil appeared on BitcoinEthereumNews.com.

US Treasury Secretary Scott Bessent said on Friday that we are going to see rebalancing where India buys less Russian oil soon. Key quotes Soon we are going to see rebalancing where India buys less Russian oil.India is going to start rebalancing over next few weeks and months in favor of U.S. oil.Argentina’s leader will be coming to Oval Office next Tuesday.This is not a bailout for Argentina.Argentine peso is undervalued.Exchange Stabilization Fund will not lose money in assisting Argentina.Argentina is rich in minerals, committed to U.S. companies coming into that sector.Says he believes the Chinese will come back at the end of the season and buy soybeans.If it weren’t for shutdown, we would have announced support for farmers. Market reaction At the time of writing, the USD/INR pair is trading 0.10% higher on the day to trade at 89.00.  WTI Oil FAQs WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media. Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value…

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Filed under: News - @ October 10, 2025 1:24 am