Brent retreats to $104 despite supply disruption threats, US sanctions easing plans
Published 2 d ago6 sourcesEvidence: Reported
Oil prices remain elevated near $106 as markets weigh potential US easing of sanctions on certain tankers against heightened security risks in the Strait of Hormuz. The US is reportedly seeking new ways to increase supply, indicating policy flexibility amid tight markets. The net directional impact is uncertain, as sanctions relief could add supply while Hormuz disruptions threaten it.
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Maritime attacks in the Strait of Hormuz have escalated significantly, with UKMTO data confirming transits are 70% below pre-conflict levels and 12 attacks in the past week. Iran has claimed closure of the Strait, a critical escalation, though the extent of enforcement and immediate military response remains unconfirmed. The actual scale of attacks is likely higher due to underreporting.
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