SINGAPORE, October 19, 2026: Global oil prices declined in Asian trading on Monday, with Brent crude falling more than 1.5% to $107.92 per barrel after US President Donald Trump withdrew several planned sanctions targeting Russia, easing concerns over potential disruptions to global energy supplies.
The decline followed an executive order issued by Trump on Friday that reversed a number of proposed restrictions linked to Russia just days before they were due to take effect.
The measures included proposed tariffs on Russian goods and restrictions related to purchases of Russian oil and natural gas.
Brent crude prices continued to retreat in Asian markets as traders assessed the implications of the US decision for global energy supplies.
Brent crude retreats from $110 per barrel
The decline came after oil prices had risen sharply on Friday amid escalating tensions in the Middle East and growing concerns about the security of international oil shipments.
Brent crude briefly reached $110 per barrel during Friday’s trading session, marking its first move to that level since May.
The earlier increase reflected concerns that heightened regional security risks could disrupt oil transportation and restrict global energy supplies.
However, the withdrawal of the proposed US sanctions on Russia reduced some of those supply concerns, contributing to the subsequent decline in crude prices.
Trump withdraws planned restrictions on Russian energy
The US administration’s decision involved several measures that had been scheduled for implementation within days.
These included proposed tariffs affecting Russian products and restrictions on the purchase of Russian oil and gas.
The reversal came as international energy markets remained sensitive to developments involving major oil-producing countries and the security of global supply routes.
Despite Monday’s decline, crude prices remained elevated following the recent increase driven by geopolitical tensions in the Middle East.
The latest movement highlights the influence of US sanctions policy and regional security developments on international oil markets.