Oil Shrugs Off Trump’s ‘Toughest Sanctions in History’
Iran says a limited shipping corridor will stay open only if regional wars end, while U.S. pressure has cut Hormuz traffic to five ships, data show.
- On Friday, President Trump rejected extending the June MoU with Iran, maintaining the "toughest sanctions in history" against the nation as oil prices hold near $90 per barrel for ICE Brent.
- Qatari and Pakistani mediation efforts have failed to resolve the standoff, leaving uncertainty over Hormuz transits while Tehran insists passage will remain blocked until Washington lifts sanctions and pays compensation.
- Ramping up Gulf transits, Saudi Aramco sold at least 4 million barrels of Arab Medium and Heavy to PetroChina for September loading outside the Hormuz strait, as Yanbu loadings falter.
- Six EU countries, including Germany and Spain, are requesting September talks to discuss an EU-wide oil windfall profit tax as European diesel prices surge over 70% since the war began.
- Starting in October, Britain's household energy price cap will rise to £1,723 as natural gas prices doubled from pre-war levels, threatening to push domestic energy debt from £6 billion to £7 billion by year-end.
13 Articles
13 Articles
Oil Shrugs Off Trump’s ‘Toughest Sanctions in History’
Oil holds near $90 despite sweeping Iran sanctions as uncertainty over Hormuz transits keeps markets on edge. Friday, August 28, 2026 The US announcement of ‘toughest sanctions in history’ against Iran did relatively little to push oil prices away from their comfort zone around $90 per barrel (for ICE Brent), with Qatari and Pakistani mediation so far failing to bring the warring sides closer. After President Trump rejected the extension of the …
Crude oil rebounds as Trump reportedly rejects return to Iran ceasefire deal terms (USO:NYSEARCA)
Crude oil futures rose after The Wall Street Journal reported President Trump is not interested in returning to the terms of the memorandum of understanding the US reached with Iran in June
Oil prices rebounded more than 2% after three sessions of losses as Trump's stance on Iran removes expectations of immediate diplomatic de-escalation in the Middle East
Oil Rises on Fresh Doubts Over US-Iran Diplomacy Outlook
Oil rose after a report said US President Donald Trump has told mediators he’s uninterested in returning to terms of a June ceasefire deal signed with Iran, casting doubt on a sustainable increase in energy flows through the Strait of Hormuz.
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