09:12 - 25.08.2026

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August 25, Fineko/abc.az. Oil prices remained relatively flat on Tuesday following a decline of over 2% in the previous session, as markets weighed the impact of tougher US secondary sanctions against Iran.

Brent crude futures slid 9 cents to $92.16 per barrel, while US West Texas Intermediate (WTI) rose 1 cent to $85.02 per barrel.

Key Market Drivers and Risks:

• New Sanctions: US Treasury Secretary Scott Bessent announced the expansion of sanctions aimed at cutting off Iran's economic resources. Countries trading with Iran will be given a grace period to comply with the new regulations or face exclusion from the US dollar-based financial system.

• Military Tension and Tanker Attack: While Washington’s shift toward economic pressure somewhat eased immediate supply concerns, Middle East risks persist. The United Kingdom Maritime Trade Operations (UKMTO) reported that an oil tanker was struck and disabled off the coast of Oman.

• Hormuz Strait Risk: Asserting control over the Strait of Hormuz—through which nearly 20% of global oil consumption passes—Tehran identified 45 tankers for alleged rule violations, warning that measures up to cargo seizure could be taken.

• Record Low US Reserves: According to Energy Department data, US Strategic Petroleum Reserve stocks fell by 3.7 million barrels last week to 289.7 million barrels, reaching their lowest level since November 1982.