Crude oil futures experienced a decline on Friday morning, despite reports of the United States imposing sanctions on approximately 100 individuals, entities, and vessels associated with Iran’s oil network.
As of 9:57 a.m. on Friday, December Brent oil futures were priced at $64.97, reflecting a decrease of 0.38 percent. Meanwhile, November crude oil futures for West Texas Intermediate (WTI) stood at $61.30, down by 0.34 percent. In India, October crude oil futures were trading at ₹5,451 on the Multi Commodity Exchange (MCX) during the early trading hours, lower than the previous close of ₹5,462, down by 0.20 percent, while November futures were at ₹5,431, a decrease from the previous close of ₹5,438, down 0.13 percent.
According to a report from Reuters, the U.S. Treasury Department imposed these new sanctions on Thursday, targeting entities such as the Shandong Jincheng Petrochemical Group, an independent refinery believed to have purchased significant amounts of Iranian oil since early 2023. Additionally, the sanctions included the Rizhao Shihua Crude Oil Terminal based in China, which operates at Lanshan Port, as well as several vessels transporting crude oil.
In a related development, a recent peace agreement between Israel and Hamas has positively impacted oil market sentiments. The ongoing two-year conflict had previously elevated crude oil prices due to fears of supply disruptions in the oil-rich West Asia region.
Turning to other commodities, October natural gas futures were trading at ₹287.90 on the MCX, a decline from the previous close of ₹290.60, down 0.93 percent. On the National Commodities and Derivatives Exchange (NCDEX), October guarseed contracts were up by 0.40 percent, trading at ₹4,797 compared to the previous close of ₹4,778. November jeera futures also saw an increase, trading at ₹19,310 on NCDEX, up from ₹19,280, a rise of 0.16 percent.
Published on October 10, 2025.
