# Latest Oil Prices, Market News and Analysis for August 23 - Bloomberg

> Oil futures fell on August 23 as signs of a thaw in U.S. relations with sanctioned oil producers emerged. WTI dropped below $79 to its lowest close in more than a month, with the Biden administration reported to be in talks with those producers.

- Date: 2023-08-23 · published 2023-08-23T12:00:00.000Z
- Category: geopolitics · region US · magnitude low
- Page: https://feedsoft.ai/events/34758-latest-oil-prices-market-news-and-analysis-for-august-23-bloomberg
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Possible easing of sanctions on major producers could add crude supply to the market and weigh on prices.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2024-05-02 | [Latest Oil Prices, Market News and Analysis for May 3 - Bloomberg](https://feedsoft.ai/events/7231-latest-oil-prices-market-news-and-analysis-for-may-3-bloomberg.md) | -0.1% | -1.9% |
| WTI | 2025-06-23 | [Latest Oil Market News and Analysis for June 24 - Bloomberg](https://feedsoft.ai/events/9998-latest-oil-market-news-and-analysis-for-june-24-bloomberg.md) | -12.2% | -9.7% |
| WTI | 2024-03-25 | [Opec+ 7 agree another output target hike in August \| Latest Market News](https://feedsoft.ai/events/31111-opec-7-agree-another-output-target-hike-in-august-latest-market-news.md) | +4.1% | +3.2% |
| WTI | 2026-04-01 | [Grain, Oilseed Prices Fall as Traders Look for End to Iran War - Bloomberg](https://feedsoft.ai/events/19762-grain-oilseed-prices-fall-as-traders-look-for-end-to-iran-war-bloomberg.md) | -6.6% | +6.7% |
| WTI | 2026-03-10 | [Oil and gas prices fall after Trump says war is 'very complete' - BBC News](https://feedsoft.ai/events/9387-oil-and-gas-prices-fall-after-trump-says-war-is-very-complete-bbc-news.md) | -1.3% | +20.4% |
| BRENT | 2025-06-23 | [Latest Oil Market News and Analysis for June 24 - Bloomberg](https://feedsoft.ai/events/9998-latest-oil-market-news-and-analysis-for-june-24-bloomberg.md) | -11.9% | -9.9% |
| BRENT | 2024-03-25 | [Opec+ 7 agree another output target hike in August \| Latest Market News](https://feedsoft.ai/events/31111-opec-7-agree-another-output-target-hike-in-august-latest-market-news.md) | +1.9% | +2.3% |
| BRENT | 2026-04-01 | [Grain, Oilseed Prices Fall as Traders Look for End to Iran War - Bloomberg](https://feedsoft.ai/events/19762-grain-oilseed-prices-fall-as-traders-look-for-end-to-iran-war-bloomberg.md) | -12.2% | -1.1% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2023-08-23/latest-oil-market-news-and-analysis-for-august-23

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