Oil Slips as US Weighs Sanctions Relief for Tankers
Brent and WTI fell as Washington considered allowing some sanctioned shadow-fleet vessels to carry legal oil, despite rising risks near Hormuz.
Key takeaways
- Brent and WTI futures were lower in Thursday morning trading.
- A US official said Washington was considering easing sanctions on some shadow-fleet vessels.
Oil prices fell as the US considered easing sanctions on some tankers carrying oil from Russia, Iran and Venezuela. As of 07:22 UTC Thursday, Brent futures traded at $104.12 a barrel, down 1.83% since the previous close. WTI futures were at $94.04, down 1.1% as of 07:21 UTC.
A US official said discussions involved allowing some previously sanctioned vessels to transport what the administration considers legal oil. The proposal aims to ease pressure on tanker availability and shipping costs, according to reports.
The decline came as attacks near the Strait of Hormuz raised supply concerns. Maritime officials said a container ship and a dry-bulk carrier sank after separate incidents in the area.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
