Brent crude futures traded below Friday’s settlement in two Reuters updates Monday, days after President Donald Trump issued an order waiving specified measures under a law targeting Russia and Iran.
A separate report published Monday did not give the observation time, contract month or instrument for its Brent quote.
Reuters reported Brent futures at $107.57 a barrel in a 2:19 a.m. ET (06:19 UTC) update, then $108.52 in a 6:02 a.m. ET (10:02 UTC) update, as an earlier EconoTimes report on the Russia waiver noted. Brent’s Friday settlement was $109.86 a barrel, and West Texas Intermediate (WTI) closed at $101.41.
On Oct. 16, the White House said President Donald Trump’s order waived specified sanctions, duties and restrictions authorized by the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026. It left earlier measures imposed through executive orders on Russia in force.
Reuters and the Associated Press cited the prospect of more Russian energy entering global markets as a factor behind lower oil prices. Reuters reported that Friday’s settlement was Brent’s highest since May 19.
