Oil slips as traders weigh possible Russia sanctions waiver and Middle East supply risks
Brent fell 0.45% to $109.06 a barrel as markets assessed a Trump order easing some Russian energy sanctions and Houthi attacks on Saudi Arabia.
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what happened
Oil prices fell on Tuesday, according to Reuters, as markets weighed an executive order from US President Donald Trump that waives some sanctions and tariffs tied to Russian energy exports, while following attacks on Saudi Arabia and Yemen. Brent futures dropped 49 cents, or 0.45%, to $109.06 a barrel. The previous session saw Brent touch $110.70, its highest since May 20.
Trump said he has not yet made a final decision on the order, and Secretary of State Marco Rubio said officials need more time to evaluate it. The Houthis claimed attacks on Saudi energy, airport and military sites, including an Aramco facility in Yanbu and the Shaybah oilfield. Saudi authorities have not confirmed the claims, and Reuters could not verify them independently.
The IEA said Russian crude output rose by 65,000 barrels per day in September to 8.43 million bpd.
why it matters
Ongoing risks to supply from the Gulf region keep oil above $100 a barrel, even as a possible easing of sanctions on Russian crude and diesel offers some offsetting supply prospects.
market impact
Oil: possible extra Russian crude and diesel supply pressures Brent, while Gulf supply risks support prices
tags
instruments
sources
- Oil eases as markets assess potential waiver on Russian energy, Middle East supply risks — Reuters, 20 October 2026 at 00:47 UTC
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