The latest early-Monday reports put West Texas Intermediate (WTI) at sharply different levels, ranging from below $97.50 to about $100 and complicating comparisons of the U.S. crude benchmark.
The Associated Press reported U.S. crude at $96.84 a barrel, down 2.2%, at 1:48 a.m. ET (05:48 UTC). Reuters quoted U.S. crude futures at $100.20, down 1.2%, at 9:06 p.m. ET Sunday (01:06 UTC Monday); the Financial Times’ LSEG data page showed WTI at $100.17 at 1:01 a.m. ET Monday (05:01 UTC). The reports did not identify a common contract or explain the gap.
President Donald Trump’s Oct. 16 executive order waives specified sanctions, restrictions and duties under the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026. The order says Russia-related measures imposed under earlier executive orders remain in place. The Associated Press and Reuters linked the lower oil readings to the possibility of additional Russian energy supplies.
Crude had risen over the preceding week. FXStreet put WTI’s Friday high at $99.25 to $99.30, its highest in a month on that outlet’s price series, after seven consecutive daily gains.
The U.S. Energy Information Administration (EIA) reported that commercial crude stocks, excluding the Strategic Petroleum Reserve, fell by 8.6 million barrels to 415.6 million barrels in the week ended Oct. 9. Reuters said WTI rose more than 3% on Thursday after the inventory report.
Shipping risks remained in the picture. Reuters reported that Iran’s Revolutionary Guards Navy said two tankers caught fire after striking mines in the Strait of Hormuz, and said the claim lacked independent confirmation. The Associated Press reported that fighting between Saudi Arabia and Iran-backed Houthi rebels had escalated in Yemen. Reuters also said shipping and insurance charges continued to support physical-delivery prices even as futures fell.
The EIA’s next weekly inventory report is scheduled for Wednesday, Oct. 21, at 10:30 a.m. ET (14:30 UTC).
