CNBC_ Oil prices diverged during the trading session on Thursday, October 15, as investors assessed the risks threatening supplies due to attacks on vessels transiting the Strait of Hormuz, and US efforts aimed at reducing oil shipping costs by easing sanctions imposed on vessels.
On the trading front, Brent crude futures settled at $105.92 per barrel, down 14 cents, or 0.13%.
In contrast, US crude futures rose by $2.88, equivalent to 3.03%, settling at $97.97 per barrel.
US crude had risen to a three-week high during Wednesday's session, after the Houthis attacked a headquarters of Saudi Aramco, and Iran announced the implementation of new methods to target vessels in the Strait of Hormuz and keep oil prices high.
Shipping sector officials said on Wednesday that a container ship and a dry cargo ship sank near the strait over the past twenty-four hours after being hit by projectiles in two separate incidents.
Attacks in the strait have escalated over the past ten days, with Iran stating that it is intensifying its attacks in response to the US blockade imposed on its ports and stricter sanctions imposed last month.
A US official said on Wednesday, in remarks reported by Reuters, that President Donald Trump's administration is considering easing sanctions imposed on the so-called "shadow fleet," which transports oil and petroleum products from countries such as Russia, Iran, and Venezuela, to help ease pressure on prices after the war with Iran disrupted navigation and pushed shipping costs to record levels.
The monthly report of the International Energy Agency, released on Wednesday, showed that Russia's crude production rose by 65,000 barrels per day in September, reaching 8.43 million barrels per day, but remained about 870,000 barrels per day lower compared to the same period last year.
The agency also stated that oil exports from Gulf countries rose by 4.4 million barrels per day in September, reaching approximately 75% of pre-war levels.
