OIL MARKETS

Brent falls 1.3% as Hormuz shipping risks persist

Brent futures eased after a partial US sanctions waiver on Russia, but a reported tanker mine incident and shipping costs kept oil-market risks in focus.

BharatVox · 19 October 2026 at 06:20 pm IST

Crude oil tanker at sea — context photograph; not the reported event — Government of the United States, Public domain

Brent crude futures fell 1.3% to around $108.5 a barrel after US President Donald Trump waived some sanctions on Russia, Economic Times Markets reported in its October 19 update. The US benchmark 10-year Treasury yield also eased to 5.0812%.

US Secretary of State Marco Rubio said Trump would take up to 60 days to assess the economic impact. Oil markets nevertheless remained sensitive to risks around the Strait of Hormuz after Iran reported that another tanker had struck a mine. The tanker incident remains an Iranian claim in the reporting.

Shipping and insurance costs continued to keep prices for oil for actual delivery higher, despite the decline in futures. These figures are a source-reported market snapshot, not a live price service.

#Brent crude#Strait of Hormuz#Russia sanctions#Oil markets

Fact-check this story · Source: Economic Times Markets: Dow Jones| Nasdaq | S&P 500 | US Stock Market Today |Live Updates: S&P 500, Nasdaq futures rise as AI stocks rebound ahead of key earnings. This AI-assisted account is based on the linked source, not independent on-the-ground reporting by BharatVox. Any opinion is separately labelled.

Join the conversation (0)