Crude Oil Prices Fall as US Weighs Easing Shipping Sanctions (October 15, 2026)

Crude oil prices fell by more than $1 in early trading on Thursday, October 15, 2026, as markets weighed supply risks from attacks near the Strait of Hormuz against US efforts to reduce shipping costs by easing sanctions on certain oil vessels, as per news reports. 

Brent crude futures declined $1.39, or 1.31%, to $104.67 a barrel by 0116 GMT. US West Texas Intermediate (WTI) crude futures fell $1.02, or 1.07%, to $94.07, reversing gains from the previous session. 

Strait of Hormuz Attacks Raise Supply Concerns 

WTI had climbed to a three-week high in the previous session after Houthi forces attacked Saudi Aramco’s headquarters. Iran also announced new tactics targeting ships in the Strait of Hormuz, a vital route for global oil shipments. 

Two vessels, a container ship and a dry bulk carrier, sank near the strait within 24 hours after separate projectile strikes, maritime officials said on Wednesday. 

Attacks in the area have increased over the past 10 days as Iran intensifies strikes in response to the US blockade of its ports and tougher sanctions introduced last month. The conflict has disrupted shipping and pushed freight costs to record levels. 

US Considers Easing Sanctions on Oil Tankers 

The Trump administration is considering easing sanctions on vessels belonging to the so-called shadow fleet, which has transported oil and petroleum products from Russia, Iran and Venezuela. 

A US official said on Wednesday that discussions centred on potentially allowing previously sanctioned vessels to transport what Washington describes as “legal oil”. The proposal aims to ease shipping constraints and help bring down petroleum costs. 

Russian Output and Middle East Exports Increase 

Higher oil output from Russia and the Middle East has helped limit price increases. Russia’s crude oil production rose by 65,000 barrels per day in September to 8.43 million barrels per day, although it remained 870,000 barrels per day below the level recorded a year earlier, according to the International Energy Agency (IEA). 

The IEA also reported that crude oil exports from Middle East Gulf producers increased by 4.4 million barrels per day in September, reaching around 75% of pre-war levels. 

Read More: BHEL Share Price Gains Over 4% After Q2 FY27 Earnings Results: Total Income Up 24.3% YoY! 

US Inventory Data in Focus 

US crude oil and distillate inventories declined last week, while petrol stocks increased, according to American Petroleum Institute data cited by market sources. Crude inventories fell by 11.1 million barrels in the week ended October 9, exceeding analysts’ expectations. 

Official inventory figures from the US Energy Information Administration are due at 1600 GMT on Thursday, following a one-day delay because of the Columbus Day holiday. 

Conclusion 

Crude oil prices remain under pressure from easing supply constraints and proposed shipping sanctions relief, while attacks near the Strait of Hormuz continue to threaten global oil flows. Traders are awaiting official US inventory figures for further direction. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.   

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.