Brent Slips to About $104 After Five Days of Gains as Markets Weigh Reports of Eased Shadow Fleet Sanctions

Brent crude fell to $104.33 a barrel on the morning of Thursday, October 15, 2026, about 1.6 percent below the previous day, ending a five-day rally. According to Trading Economics, part of the drop reflects a technical correction and profit-taking after the recent gains. Traders are also weighing reports that the US is considering easing sanctions on so-called shadow fleet vessels that carry oil and products from Russia, Iran and Venezuela, to bring down record freight rates; Donya-e-Eqtesad relayed the report from Reuters. Supply concerns remain high: a container ship sank in the Strait of Hormuz on Wednesday after being hit by unidentified projectiles, and Houthi forces continued missile and drone attacks on Saudi Arabia. Brent is still 70.86 percent above a year ago and 1.42 percent lower over the past month.