Oil prices fall as US imposes sanctions on Iran

Business Oct 10, 2025

Oil prices dipped on Friday after the US hit over 90 people, companies, and ships connected to Iran's oil exports with new sanctions.
Brent crude slid to $64.97 a barrel, and WTI dropped to $61.30.
Indian crude futures followed suit with modest declines.

What led to the fall?

The US is tightening the screws on Iran's oil trade, targeting more than 50 entities—including a Chinese oil terminal and several ships—to cut off funding for militant groups.
Meanwhile, a recent Israel-Hamas peace deal has helped ease worries about major supply disruptions in West Asia, making the oil market a bit less jumpy for now.