U.S. Treasury Secretary Scott Bessent announced a change in oil buying habits. India is set to reduce its Russian oil purchases and will start buying oil from the United States in the coming weeks. The USD/INR currency pair rose slightly, trading 0.10% higher at 89.00. Argentina’s leader will visit the Oval Office next Tuesday to discuss the value of the Argentine peso and opportunities in minerals.

Importance Of WTI Oil

WTI oil is a popular type of crude oil known for its high quality. It is light and sweet because it has low gravity and low sulfur content. This oil comes from the U.S. and serves as a benchmark for the global oil market. Several factors influence WTI oil prices, including global demand, political instability, decisions from OPEC, and the value of the U.S. dollar. Weekly reports on oil inventory from the API and EIA have a big impact on prices, showing changes in supply and demand. OPEC, a group of 12 oil-producing countries, can shape WTI oil prices by adjusting its production quotas. Changes in these quotas directly affect supply levels and market prices.

Impact Of Changing Oil Demand

India will soon shift its crude purchases from Russia to the U.S., which means an increase in demand for WTI crude from a major consumer. This comes after the latest EIA report from October 2025, which showed a surprising drop in U.S. crude stockpiles by 1.8 million barrels, contrary to analysts’ expectations of an increase. This change in oil purchasing patterns highlights the WTI-Brent crude spread as an important factor to monitor. Similar shifts during the 2022-2023 energy crisis caused this spread to become very volatile. Options that wager on WTI gaining strength against Brent could be a good way to trade this expected rebalancing over the next few weeks. The currency markets reflect this trend, with the USD/INR pair now at 89.00. More Indian demand for U.S. oil means higher demand for U.S. dollars, adding upward pressure on the exchange rate. India’s central bank has already spent over $15 billion in 2025 to defend the rupee, limiting its ability to intervene if this trend continues. Additionally, there are signs that Chinese demand for U.S. soybeans is set to rise. November soybean futures have jumped 2.5% this month on these expectations. With the government planning support for farmers, put options on soybean futures could become more affordable, making it cheaper to hedge long positions. Lastly, positive news about Argentina suggests improving prospects for emerging markets. This could benefit U.S. companies with interests in minerals and lithium there. We may see an uptick in call option volume on mining ETFs as traders prepare for a more stable business environment in Argentina. Create your live VT Markets account and start trading now.

here to set up a live account on VT Markets now