RoydadNaft – Brent crude futures fell $1.03, or 0.97%, to $105.03 a barrel. In contrast, U.S. West Texas Intermediate (WTI) crude futures rose $1.04, or 1.09%, to $96.13 a barrel.

Brent crude prices fell about 1% on Thursday, October 15, 2026, as the possibility of U.S. action to ease restrictions on Russia’s so-called shadow fleet of tankers eased concerns about excessive price increases. However, attacks on ships in the Middle East and Ukrainian strikes on Russian energy infrastructure limited the decline.

By 1:26 p.m. GMT, Brent crude, the international oil benchmark, had fallen $1.03, or 0.97%, to $105.03 a barrel.

In contrast, U.S. West Texas Intermediate crude futures rose $1.04, or 1.09%, to $96.13 a barrel. Expectations of a substantial decline in U.S. weekly crude inventories helped support prices.

John Evans, an oil analyst at PVM Oil Associates, said oil prices fell after a U.S. official said on Wednesday, October 14, that the administration was considering easing sanctions on some Russian tankers operating outside established regulatory frameworks. The move could help lower freight rates and provide greater flexibility in diesel shipments, he said.

The discussions come just days after U.S. President Donald Trump temporarily lifted sanctions on Russian diesel fuel in an effort to curb a surge in global prices. The new talks center on the possibility of Washington allowing what the U.S. official described as “legal oil” to be transported on vessels that had previously been sanctioned.

However, escalating hostilities between Saudi Arabia and Yemen’s Houthi movement, along with renewed attacks on ships in the region, continued to support oil prices.

Maritime officials said on Wednesday, October 14, that a container ship and a dry bulk carrier had sunk in separate incidents near the Strait of Hormuz after being struck by projectiles.

Attacks around the strategic waterway have surged over the past 10 days. Iran has said it is intensifying its strikes in response to the U.S. blockade of Iranian ports and tougher sanctions imposed in September 2026.

“The ongoing conflict between Saudi Arabia and the Houthis is keeping a geopolitical risk premium in oil markets, but energy infrastructure has not been attacked in the past several days,” analysts at Mitsubishi UFJ Financial Group (MUFG) said in a research note.

Meanwhile, Ukraine resumed attacks on Russian refineries, striking a facility in the Ryazan region. The attack came after Ukrainian President Volodymyr Zelenskyy expressed anger over what he described as a “dangerous” withdrawal of U.S. intelligence support.

A Spanish Energy Ministry official said on Thursday, October 15, that Spain would release 4.4 million barrels of oil from its strategic reserves in October 2026.

The announcement came as the International Energy Agency began a meeting expected to clarify details of a planned release of 100 million barrels from oil stockpiles, including diesel. The timing and scale of the release are key issues under discussion.

In the United States, crude oil and distillate inventories fell last week, while gasoline stocks increased, market sources said on Wednesday, October 14, citing data from the American Petroleum Institute.

U.S. crude inventories fell by 11.1 million barrels in the week ended October 9, 2026, according to the sources. The decline was substantially larger than analysts polled by Reuters had expected.

Official data from the U.S. Energy Information Administration were scheduled for release at noon Eastern Daylight Time on Thursday, October 15, equivalent to 4:00 p.m. GMT. The report had been delayed by one day because of the Columbus Day holiday on Monday, October 12.