If secondary sanctions lead to a 10 percent drop in Russia’s oil exports, that could increase the price of Brent crude oil by $6 from its current level of about $71 per barrel, while a 20 percent drop could cause prices to spike by $11, Brooks and Harris wrote.

The gains followed a significant decline on Tuesday, where both benchmarks lost more than $1, marking their fourth consecutive session of losses.

The United States has escalated economic measures against India by imposing an additional 25 percent tariff on Indian goods. This directive, announced on August 6, 2025, and effective from August 27,