Oil prices rebounded in early Asian trade after a drop to five-month lows, driven by U.S. pressure on India to stop buying Russian crude. West Texas Intermediate was up 0.91% at $58.80, while Brent futures rose 0.89% to $62.46 per barrel. Despite President Trump’s comments, oversupply fears persist due to production increases. The IEA warned of a potential oil glut in 2026 if output continues to rise. Bank of America joined bearish voices, predicting Brent could fall below $50 per barrel. Trump’s words alone may not shift the bearish sentiment in oil markets.

Read more at Yahoo Finance: Oil Prices Rebound After Trump Claims India Will Curb Russian Oil Imports