Brent oil slips as US weighs easing sanctions on Russia's 'shadow fleet'
USO•Brent crude fell 0.97% to $105.03 a barrel as the US considered easing sanctions on some Russian tankers. WTI rose 1.09% to $96.13, while US crude inventories fell by 11.1 million barrels last week, sources said.
1. Oil prices diverge
Brent crude fell $1.03 to $105.03 a barrel by 1326 GMT after a US official said the administration was considering easing sanctions on some Russian “shadow fleet” tankers. WTI rose $1.04 to $96.13 on expectations for a large draw in weekly US inventories.
2. Shipping risks support prices
Attacks on ships near the Strait of Hormuz and Ukrainian strikes on Russian energy infrastructure limited Brent’s decline. A container ship and a dry bulk carrier sank near the strait after being hit by projectiles in separate incidents, maritime officials said.
3. Inventory data in focus
Sources citing American Petroleum Institute data said US crude stocks fell 11.1 million barrels in the week ended October 9, a larger decline than analysts had expected. Official figures from the US Energy Information Administration were due later on Thursday. Spain also plans to release 4.4 million barrels from strategic reserves in October.
