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Oil prices slip as US waives some Russian energy sanctions

Greenwatch Desk Energy 2026-10-20, 10:07am

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Oil prices dropped on Tuesday as investors evaluated an executive order signed by Trump granting waivers on certain sanctions and tariffs on Russian energy exports.


Brent crude futures fell 49 cents, or 0.45 percent, to $109.06 a barrel as of 00:10 GMT.

US West Texas Intermediate (WTI) crude for November delivery dipped 0.33 percent to $103.32 ahead of its Tuesday expiration, while the more active December contract slid 46 cents, or 0.47 percent, to $98.08.

The decline occurred even as ongoing strikes in Saudi Arabia and Yemen maintained concerns over potential Middle East supply disruptions, according to Reuters.

In the prior session, Brent had surged to $110.70 a barrel, marking its highest point since May 20, reports AL Jazeera.