Global crude oil prices have declined despite continued sanctions on Russia, as markets anticipate that global supply will surpass demand in 2026. On Tuesday, Brent crude dropped by 27 cents to $63.10 per barrel, while West Texas Intermediate (WTI) fell by 23 cents to $58.61. Analysts attribute the decline to forecasts from institutions like Deutsche Bank, which predict a surplus of at least two million barrels per day in 2026, with little chance of shortages in 2027. Meanwhile, Indian refiners such as Reliance have reduced imports of Russian oil due to new sanctions, prompting Russia to increase sales to China. However, optimism remains as expectations of a potential U.S. interest rate cut in December could stimulate economic activity and boost oil demand. The market currently faces a tug-of-war between fears of oversupply and hopes of renewed demand growth.