Brent Falls 1.8% After Trump Waives Russia Sanctions, Lifting 7.6 Million-Barrel Export Outlook
Updated
Updated · Reuters · Oct 18
Brent Falls 1.8% After Trump Waives Russia Sanctions, Lifting 7.6 Million-Barrel Export Outlook
2 articles · Updated · Reuters · Oct 18
Summary
Brent crude dropped $1.94 to $107.92 a barrel and WTI fell 83 cents to $100.58 after Donald Trump waived key Russia sanctions and tariffs under the Graham Act.
Trump’s move could unlock more Russian fuel exports after his deal with Vladimir Putin to ship diesel to the United States and other countries—starting at 2.3 million barrels this month and rising to 7.6 million monthly.
Marco Rubio said Trump will spend up to 60 days assessing the waiver’s economic impact, leaving traders uncertain about how long looser restrictions will last and limiting expectations for a sustained supply increase.
Middle East risks still kept a floor under prices: Brent had briefly touched $110 on Friday, while Kpler said Gulf crude flows fell to about 8.5 million bpd last week from more than 20 million bpd amid 10 vessel incidents.
The policy shift also sharpened geopolitical strains, with Volodymyr Zelenskiy saying the U.S. actions will hurt Ukraine and Egypt pledging support for Saudi Arabia against Yemen’s Houthis.