US Oil Update: Crude Steadies as Markets Weigh US-Iran Talks, New Iran Sanctions
Crude oil futures were little changed in after-hours trading on Friday as the US imposed fresh sanctions on Iran's financial services industry, even as peace talks between the two countries remained active, sending mixed signals to global crude markets. Front-month West Texas Intermediate crude futures eased by 0.7% to $71.61 per barrel, while Brent futures settled lower at 0.3% to $76.09/bbl. Gelber & Associates strategists said WTI crude is trading near $71.83/bbl, down 0.4% on the day but still headed for a weekly gain after renewed US-Iran fighting disrupted shipping via the Strait of Hormuz. The US issued new sanctions against Iran on Friday after Tehran's resumption of attacks on commercial vessels in the Hormuz. The Treasury Department's Office of Foreign Assets Control said it imposed sanctions on Iranian financier Ali Ansari and several currency exchange houses, accusing them of helping move billions of dollars through Iran's shadow financial networks. The OFAC described Ansari as a "key financier" for Iran's Supreme Leader, Mojtaba Khamenei, saying he had diverted publicly funded wealth into an extensive overseas portfolio of real estate and commercial holdings to.
Crude oil futures were little changed in after-hours trading on Friday as the US imposed fresh sanctions on Iran's financial services industry, even as peace talks between the two countries remained active, sending mixed signals to global crude markets.
Front-month West Texas Intermediate crude futures eased by 0.7% to $71.61 per barrel, while Brent futures settled lower at 0.3% to $76.09/bbl.
Gelber & Associates strategists said WTI crude is trading near $71.83/bbl, down 0.4% on the day but still headed for a weekly gain after renewed US-Iran fighting disrupted shipping via the Strait of Hormuz.
The US issued new sanctions against Iran on Friday after Tehran's resumption of attacks on commercial vessels in the Hormuz.
The Treasury Department's Office of Foreign Assets Control said it imposed sanctions on Iranian financier Ali Ansari and several currency exchange houses, accusing them of helping move billions of dollars through Iran's shadow financial networks.
The OFAC described Ansari as a "key financier" for Iran's Supreme Leader, Mojtaba Khamenei, saying he had diverted publicly funded wealth into an extensive overseas portfolio of real estate and commercial holdings to.