# Oil prices settle $1 higher after US issues new Iran-related sanctions

> Oil settled about $1 higher on Thursday, with Brent up 1.72% at $72 a barrel. The US issued new Iran-related sanctions that target a Chinese independent refinery and vessels supplying crude to such plants.

- Date: 2025-03-20 · published 2025-03-20T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/25757-oil-prices-settle-1-higher-after-us-issues-new-iran-related-sanctions
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Sanctions on Iranian crude, with China as the main importer, reduce available barrels and support crude prices. The effect may be limited if the dollar strengthens or if buyers find alternative supply.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2025-01-10 | [Oil prices rally 3% as US hits Russian oil with tougher sanctions](https://feedsoft.ai/events/10352-oil-prices-rally-3-as-us-hits-russian-oil-with-tougher-sanctions.md) | +5.4% | -4.2% |
| BRENT | 2025-02-24 | [Oil settles higher on fresh Iran sanctions, Iraq commitment to OPEC+](https://feedsoft.ai/events/26209-oil-settles-higher-on-fresh-iran-sanctions-iraq-commitment-to-opec.md) | -0.9% | -3.0% |
| BRENT | 2024-04-16 | [Oil prices hold firm as U.S. weighs added sanctions on Iran oil exports after attack on Israel](https://feedsoft.ai/events/30933-oil-prices-hold-firm-as-u-s-weighs-added-sanctions-on-iran-oil-exports-after.md) | -3.7% | -8.0% |
| BRENT | 2025-10-23 | [Pump prices could rise after US, EU hit Russian oil companies with new sanctions and oil spikes \| AP News](https://feedsoft.ai/events/8129-pump-prices-could-rise-after-us-eu-hit-russian-oil-companies-with-new-sanctions.md) | +4.1% | +1.9% |
| BRENT | 2026-08-31 | [Oil prices settle up more than $4 a barrel on renewed US-Iran fighting \| Reuters](https://feedsoft.ai/events/17635-oil-prices-settle-up-more-than-4-a-barrel-on-renewed-us-iran-fighting-reuters.md) | +10.8% | +22.9% |
| WTI | 2025-01-10 | [Oil prices rally 3% as US hits Russian oil with tougher sanctions](https://feedsoft.ai/events/10352-oil-prices-rally-3-as-us-hits-russian-oil-with-tougher-sanctions.md) | +7.0% | -3.7% |
| WTI | 2025-02-24 | [Oil settles higher on fresh Iran sanctions, Iraq commitment to OPEC+](https://feedsoft.ai/events/26209-oil-settles-higher-on-fresh-iran-sanctions-iraq-commitment-to-opec.md) | -1.0% | -3.1% |
| WTI | 2024-04-16 | [Oil prices hold firm as U.S. weighs added sanctions on Iran oil exports after attack on Israel](https://feedsoft.ai/events/30933-oil-prices-hold-firm-as-u-s-weighs-added-sanctions-on-iran-oil-exports-after.md) | -2.8% | -6.7% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-prices-rise-us-data-middle-east-tensions-2025-03-20/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.