Oil Down as Traders Weigh US Sanctions Threat Against Iran
Brent and West Texas Intermediate crude fell after traders said sanctions were less threatening than a military escalation, easing supply fears.
- On Tuesday, oil prices fell about 4 percent to a one-week low as traders viewed the latest U.S. sanctions against Iran as economic pressure rather than military escalation, with Brent crude futures down $3.83 and West Texas Intermediate down $3.34.
- Treasury Secretary Scott Bessent warned countries on Monday to cut financial ties with Iran or face secondary sanctions, billing the campaign as "economic D-Day," though the Treasury Department stopped short of imposing immediate penalties.
- Supply disruption risks persist as "Iran still retains the ability to respond by disrupting shipping," said Tim Waterer, chief market analyst at KCM, which continues to keep a residual premium in the oil price.
- Global share and bond markets regained calm on Tuesday as investors shrugged off the sanctions, shifting focus to Wednesday's results from Nvidia, though analysts remain cautious about the chipmaker's ability to "meet lofty expectations."
- An oil tanker was disabled after being struck by a projectile on Tuesday near Oman's Ash Shishah, the United Kingdom Maritime Trade Operations said, as the U.S.-Israeli war with Iran continues to heighten concerns over the Strait of Hormuz.
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Times West VirginianOil down as traders weigh US sanctions threat against Iran
Brent crude fell below US$90 a barrel, while US stocks rose as markets reacted positively to softer-than-expected sanctions and positive talks between Pakistan and Iran.
International Oil Prices Plummet on Easing Concerns over Sanctions on Iran... Brent Crude Down 3.89%
(New York = Yonhap News) Correspondent Lim Soo-jung = On the 25th (local time), international oil prices continued their downward trend for the second consecutive day as concerns regarding U.S. sanctions against Iran eased.
Crude oil prices slide 4% as markets look past Iran sanctions
Oil prices dropped significantly as traders viewed new US sanctions on Iran less severely. Brent crude and West Texas Intermediate both reached their lowest levels since mid-August. The sanctions announcement was less aggressive than anticipated by many market participants. However, Iran has vowed retaliation, and shipping risks remain a concern for traders. Supply disruptions in Russia and Kazakhstan also occurred, but focus remains on Iran.
Oil prices fell to a one-week lowBrent fell to $89.10, WTI to $82.08 a barrel. Traders see economic pressure as less of a threat to supplies than escalation.
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