Global oil prices fluctuated on Thursday, 15 October 2026, as traders assessed possible changes to US sanctions on oil tankers alongside renewed concerns about shipping security and petroleum supplies.
Brent crude initially declined during trading but later recovered, while US West Texas Intermediate (WTI) gained following a larger-than-expected fall in American crude inventories.
According to Reuters, Brent futures were trading at $106.08 a barrel at 12:14 p.m. Eastern Daylight Time, up 0.02%, while WTI rose 3.11% to $98.05 a barrel.
The figures are intraday quotations and do not represent the day’s final settlement prices.
US considers easing restrictions on sanctioned tankers
The Trump administration is considering allowing some previously sanctioned oil tankers to transport crude oil and petroleum products that are not themselves prohibited under US sanctions.
The vessels are associated with the so-called shadow fleet, which has been used to transport oil from countries including Russia, Iran and Venezuela.
In a separate Reuters investigation, a US official said companies seeking to use these vessels would need approval from the Treasury Department.
The proposal is intended to increase shipping flexibility and help ease record-high freight rates that have made petroleum transportation more expensive.
The US Department of Energy said any relaxation of the restrictions would not enable Russia to transport additional sanctioned oil or petroleum products.
However, the measure remains under consideration. No broader change to the tanker sanctions has been confirmed as implemented.
Analysts question the impact on shipping costs
Energy research firm Energy Aspects warned that easing sanctions on older tankers would be unlikely to add substantial capacity to the mainstream shipping fleet immediately.
Many of the affected vessels have continued operating despite existing restrictions, limiting the potential increase in available ships.
The firm said the proposed change could make a small number of additional tankers available for certain routes through the Strait of Hormuz.
Maritime industry sources also warned that European Union and UK rules governing ship insurers could continue to restrict the vessels’ commercial use.
As a result, any reduction in freight costs would depend on how the proposal is implemented and whether shipping companies and insurers can operate within the remaining restrictions.
Ship attacks maintain pressure on oil markets
Security concerns around the Strait of Hormuz continue to influence energy markets.
Reuters reported that a container ship and a dry bulk carrier sank near the waterway after being struck by projectiles in separate incidents.
The attacks have heightened concerns about the safety of commercial shipping through one of the world’s most important energy transport routes.
Disruption in the area can increase insurance costs, delay shipments, and raise the expense of moving crude oil and refined petroleum products.
However, the effect on global prices also depends on available supply, alternative transport arrangements, and expectations about future disruptions.
US crude inventories fall sharply
The latest US government inventory figures provided additional support for oil prices on Thursday.
According to the US Energy Information Administration, commercial crude inventories fell by 8.6 million barrels to 415.6 million barrels in the week ending 9 October.
The decline was considerably larger than analysts had expected.
Earlier industry estimates from the American Petroleum Institute had suggested an even larger reduction of 11.1 million barrels, but the EIA’s figures provide the official government estimate.
The EIA also reported lower distillate inventories, while gasoline stocks increased.
A sharp reduction in crude inventories can support prices by suggesting tighter available supplies, although its effect depends on refinery activity, imports, demand, and developments in other producing regions.
Market outlook remains uncertain.
Oil traders continue to weigh competing developments.
Possible sanctions relief could improve access to some tanker capacity, while attacks on commercial vessels and uncertainty around Middle Eastern energy shipments are keeping supply risks elevated.
The fall in US crude inventories has also provided support for WTI prices.
For now, the proposed tanker policy remains under discussion, and its effect on shipping costs and oil supplies cannot be determined until the US government confirms the terms of any change.
