Key facts
- Brent crude futures fell 0.39% to $105.51 a barrel.
- WTI crude futures fell 0.55% to $97.43 a barrel.
- IEA agreed to release over 20 million barrels of diesel.
- US considering lifting sanctions on some 'shadow fleet' tankers.
- Houthis attacked Aden, killing two guards.
Oil prices dipped on Friday morning as traders assessed geopolitical risks in the Middle East and the potential for the US to ease sanctions on tankers involved in transporting oil from sanctioned countries. Brent crude futures were down 0.39% to $105.51 a barrel, and WTI futures fell 0.55% to $97.43. The International Energy Agency agreed on Thursday to release over 20 million barrels of diesel to the market. The Trump administration is reportedly considering lifting sanctions on some 'shadow fleet' vessels to reduce global freight rates, a move that has drawn criticism. Meanwhile, escalating conflict between Saudi Arabia and Yemen's Houthis, including attacks on ships and infrastructure, provided some support to prices.