# Brent hits 4-year high as U.S. sanctions on Iran tighten supply

> Brent settled at $82.72 a barrel on September 28, its highest level since November 2014, after rising more than 1%. US sanctions squeezed Iranian crude exports while other producers raised output. WTI settled at $73.25 and Sinopec was halving loadings of Iranian crude.

- Date: 2018-09-29 · published 2018-09-29T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/63234-brent-hits-4-year-high-as-u-s-sanctions-on-iran-tighten-supply
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

A four-year high in crude increases diesel, freight and processing costs across the feed chain. It also strengthens the case for higher biofuel feedstock values, which supports soybean oil and corn demand.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2018-06-29 | [Oil hits new multi-year high as market tightens on lost supply](https://feedsoft.ai/events/8782-oil-hits-new-multi-year-high-as-market-tightens-on-lost-supply.md) | +0.2% | -3.3% |
| BRENT | 2018-06-28 | [Oil trades near three-year high as Libya crisis tightens supply](https://feedsoft.ai/events/64674-oil-trades-near-three-year-high-as-libya-crisis-tightens-supply.md) | +0.7% | -4.0% |
| BRENT | 2025-01-13 | [China, India seek new supplies as US sanctions tighten grip on Russian oil \| Reuters](https://feedsoft.ai/events/26685-china-india-seek-new-supplies-as-us-sanctions-tighten-grip-on-russian-oil.md) | +2.7% | -6.4% |
| BRENT | 2022-06-16 | [Oil rebounds as new Iran sanctions fuel more supply concerns](https://feedsoft.ai/events/41115-oil-rebounds-as-new-iran-sanctions-fuel-more-supply-concerns.md) | -6.6% | -15.1% |
| BRENT | 2022-01-19 | [Oil rises to 7-year high as Turkey outage adds to tight supply outlook](https://feedsoft.ai/events/43294-oil-rises-to-7-year-high-as-turkey-outage-adds-to-tight-supply-outlook.md) | +0.8% | +8.7% |
| WTI | 2018-06-29 | [Oil hits new multi-year high as market tightens on lost supply](https://feedsoft.ai/events/8782-oil-hits-new-multi-year-high-as-market-tightens-on-lost-supply.md) | +0.5% | -6.5% |
| WTI | 2018-06-28 | [U.S. oil prices hit three-and-a-half-year high on concern over Iran sanctions](https://feedsoft.ai/events/8780-u-s-oil-prices-hit-three-and-a-half-year-high-on-concern-over-iran-sanctions.md) | -3.7% | -6.5% |
| WTI | 2018-06-28 | [Oil trades near three-year high as Libya crisis tightens supply](https://feedsoft.ai/events/64674-oil-trades-near-three-year-high-as-libya-crisis-tightens-supply.md) | -3.7% | -6.5% |

## Sources

- ednews.net: https://www.ednews.net/en/brent-hits-4-year-high-as-u-s-sanctions-on-iran-tighten-supply/

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