Oil Futures Fall as U.S. Weighs Letting Sanctioned Tankers Carry Permitted Oil
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Oil futures fell late Wednesday as the Trump administration weighed allowing some previously sanctioned tankers to carry cargoes permitted under U.S. rules, seeking to lower shipping costs amid risks to Gulf supplies. At 11:37 p.m. ET Wednesday (03:37 UTC Thursday), Brent crude futures were down $1.64, or 1.6%, at $104.42 a barrel. U.S. West Texas Intermediate (WTI) futures fell 98 cents, or 1%, to $94.11. WTI had reached a three-week high in the prior session amid attacks on shipping and rising tensions near the Strait of Hormuz.
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