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US NEWS 
Report Time: August 25, 2026 — 5:31 a.m. MDT
Summary
- WTI crude is trading near US$84.94 per barrel on TradingView, essentially flat versus Monday’s $85.01 Reuters settlement, down about $0.07, or 0.1%. TradingView’s continuous WTI contract currently references the October 2026 front month.
- Brent crude is trading near US$90.46 per barrel on TradingView, down about $1.71, or 1.9%, from Monday’s $92.17 settlement. Brent is now clearly lower as traders reassess the impact of Washington’s new Iran sanctions.
- The main driver is a reduction in immediate geopolitical risk premium. Traders appear to view economic sanctions as less threatening to near-term oil supply than renewed military escalation, despite continued disruption around the Strait of Hormuz.
Latest Oil Prices
Oil prices are under pressure Tuesday morning, extending Monday’s retreat after the United States announced expanded sanctions against Iran.
TradingView shows its NYMEX WTI continuous futures contract at approximately US$84.94 per barrel. Monday’s Reuters settlement was $85.01, putting WTI only about 7 cents lower, or roughly 0.1%, which is relatively flat on that direct comparison. TradingView’s continuous contract can differ from Reuters’ front-month reporting because of futures rollover methodology, so intraday percentage changes may not perfectly match settlement-to-current calculations.
For Brent, TradingView shows the ICE Brent continuous contract around US$90.46 per barrel, compared with Monday’s Reuters settlement of $92.17. That represents a decline of approximately $1.71 per barrel, or 1.9%.
Reuters’ own Tuesday market reporting showed even heavier selling later in the session, with Brent falling more than 3% to a one-week low as traders discounted the immediate impact of the new sanctions.
Why Oil Is Moving Lower
The biggest factor is that investors are interpreting Washington’s latest action as a shift toward economic pressure rather than immediate military escalation.
U.S. Treasury Secretary Scott Bessent announced sanctions targeting dozens of individuals, entities and vessels linked to Iran, but the measures stopped short of immediately targeting major Chinese financial institutions connected to Iranian oil trade. Reuters reported that traders viewed this as giving Iran’s trading partners time to adjust rather than creating an abrupt supply shock.
That interpretation has removed some of the geopolitical premium that pushed crude higher last week.
Key Market Risks and Catalysts
The Strait of Hormuz remains the biggest upside risk. Vessel traffic continues to operate far below normal levels, and Iran has warned it could retaliate further against U.S. economic pressure. Reuters reported that Tehran still has several escalation options, including tougher restrictions on Gulf oil movements and possible attacks on regional infrastructure.
Supply disruptions elsewhere are also worth watching. Reuters reported a tanker near Oman was struck by an unidentified projectile, Ukraine damaged Russia’s Novoshakhtinsk refinery with a drone, and Kazakhstan’s Atyrau refinery suffered a fire. These developments limit how bearish traders can become while Middle East supply routes remain unstable.
Another important factor is China. Iranian shipments to China have already fallen sharply, but Beijing remains Tehran’s most important crude customer. Whether Chinese refiners and financial institutions comply with tougher U.S. sanctions could ultimately determine how much Iranian supply is removed from the market.
Bottom Line
Oil is lower overall this morning, although the size of the move differs between contracts because of futures rollover and data timing.
WTI is roughly flat against Monday’s settlement on TradingView, while Brent is down close to 2%. The broader market tone is bearish because traders currently see U.S. sanctions as less immediately disruptive to supply than military escalation.
That could change quickly. With Hormuz traffic still restricted and Iran promising retaliation, the geopolitical risk premium has declined — but it has not disappeared.
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