Oil Slips as U.S. Waives Some New Russia Sanctions
Oil futures eased after Trump waived part of new Russia sanctions, though Middle East supply risks kept prices supported.
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what happened
Oil futures fell on Monday after President Donald Trump signed an executive order waiving some newly imposed sanctions and tariffs on Russia under a recent law. December Brent settled down 0.3% at $109.55 a barrel, and December WTI dropped 0.5% to $98.54. The November WTI contract, which expires Tuesday, rose 2.2% on thin volume to $103.66.
Analysts at Price Futures Group note that the returning Russian volumes are small against the global shortfall, while U.S. inventories, especially distillates, remain historically low. Middle East disruptions persist too: according to Kpler, confirmed shipments through the Strait of Hormuz averaged about 41% below prewar levels over seven days.
why it matters
The decline looks largely technical after Friday's gains. Supply risks from Russia and the Gulf, record tanker freight costs and low inventories still underpin prices. Morgan Stanley raised its fourth-quarter dated Brent forecast to $105 a barrel.
market impact
Oil: the sanctions waiver adds some supply, but Hormuz risks and low stocks limit the drop in Brent and WTI
tags
instruments
sources
- Oil Futures Settle Lower As U.S. Waives Some Russia Sanctions — Market Talk, 19 October 2026 at 19:38 UTC
- Oil Futures Pull Back as U.S. Waives Some Russia Sanctions — 2nd Update — Dow Jones Newswires, 19 October 2026 at 19:37 UTC
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