
US weighs freeing blacklisted tankers as freight costs hit records
Washington may let sanctioned tankers carry legal oil to cut record freight costs. Brent slipped to $104.76, but analysts doubt many extra ships will show up.
Day-by-day tracking of the war and its impact on oil prices

Washington may let sanctioned tankers carry legal oil to cut record freight costs. Brent slipped to $104.76, but analysts doubt many extra ships will show up.

Iran's Guards say a mine sank a ship carrying 2,500 containers in waters south of Hormuz. Nobody else has confirmed it, and Brent held near $106 Wednesday.

Saudi Arabia promised steady oil supply at a Riyadh summit held 10 km from an airport hit four times in a week. Brent eased to $105.97 as OPEC cut its outlook.

Diesel futures slid after Russia reopened fuel exports under a deal with Trump, but the first 300,000 tons would cover only about 15 hours of US demand.

Brent topped $105 on reports the White House wants Pentagon plans to strike Iran before the Nov. 3 midterms. A tanker was also hit in the Gulf north of Qatar.

Aramco's Amin Nasser says close to 3 billion barrels never reached buyers, and restocking the world's thin oil stocks may need two years once Hormuz is open.

G7 nations will release 100 million barrels of oil and diesel over four months. Brent briefly fell below $99 but settled at $102.25 as doubts crept in.

Trump says a diesel export ban could push up gasoline prices. Diesel sits at $6.39 a gallon, and Goldman says a ban would backfire once storage tanks fill up.

November Brent trades about $7.50 above December ahead of Wednesday's expiry, up from under $1 in August. Saudi flows are rising but Iran talks have stalled.