On Tuesday, October 13, 2026, President Donald Trump lifted U.S. sanctions on Russian diesel, allowing Moscow to export fuel worldwide.
Brent crude settled at $105.60 a barrel, down $1.01 from Monday's peak of $106.65, the highest since September 15, while WTI fell to $92.84, a decline of $0.90.
The decision follows heightened supply fears after Houthi attacks on Saudi infrastructure and tanker incidents near the Strait of Hormuz, which threatened the Gulf's critical transit routes. Defense Secretary Lloyd Austin said the U.S. will monitor the situation closely.
Both Republican Senator Marco Rubio and Democrat Representative Alexandria Ocasio‑Cortez criticized the move, citing the Energy Policy Act that prohibits Russian energy imports until Moscow ends its aggression.
Goldman Sachs forecasts that Brent could drop to the $60s by 2027 if Gulf output rises faster than expected, while OPEC trimmed its 2026 demand growth outlook to 400,000 bpd; the Treasury will review the sanction lift for compliance before the next congressional hearing.