Oil prices climbed on Wednesday, rebounding from a five-week low in the previous day, on concerns of supply disruptions after U.S. President Donald Trump's threats of tariffs on India over its Russian crude purchases.

Russian oil exporters are predicted to take in $153 billion this year, according to the Kyiv institute. Fossil fuels are the single largest source of budget revenue. The imports support Russia’s ruble currency and help Russia to buy goods from other countries, including weapons and parts for them.

President Trump accused India of aiding Moscow’s war on Ukraine by purchasing Russian energy, derailing trade talks between India and the United States.