Oil falls as US weighs Russian energy waiver, Middle East attacks persist

economictimes.indiatimes.com — October 20, 2026 at 02:01 AM UTC

Oil prices fell on Tuesday as markets weighed a US executive order waiving some sanctions and tariffs on Russian energy exports, while attacks on Saudi Arabia and Yemen kept Middle East supply risks in focus. Brent crude futures dropped 0.45% to $109.06 a barrel. The executive order, issued by President Donald Trump on Friday, waived key Russia-related penalties, including duties on goods and oil and gas purchases, though officials said a final decision is pending. Russia's crude output rose to 8.43 million barrels per day in September, but remained below year-ago levels. Yemen's Houthis claimed attacks on Saudi energy and airport targets, including an Aramco site, though Saudi authorities did not confirm. A separate Houthi attack on a Yemeni training camp killed 58 people, heightening regional instability and keeping oil above $100 a barrel.

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