# Oil tumbles as Mnuchin says oil buyers may get Iran sanctions waivers

> US crude fell 4.2% to $68.06 on July 16, 2018 after Treasury Secretary Steve Mnuchin said some oil buyers could receive waivers to keep buying Iranian crude despite US sanctions. Libyan port reopenings also eased supply concerns.

- Date: 2018-07-16 · published 2018-07-16T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/64230-oil-tumbles-as-mnuchin-says-oil-buyers-may-get-iran-sanctions-waivers
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Possible sanctions waivers would keep more Iranian barrels on the market, adding supply and pressuring crude prices.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2018-07-11 | [Crude oil falls after US softens stance on Iranian sanction waivers - The HinduBusinessLine](https://feedsoft.ai/events/10097-crude-oil-falls-after-us-softens-stance-on-iranian-sanction-waivers-the.md) | -8.2% | -6.7% |
| WTI | 2026-03-10 | [Oil prices dive as Trump says Iran war will end ‘very soon’ \| CNN Business](https://feedsoft.ai/events/6630-oil-prices-dive-as-trump-says-iran-war-will-end-very-soon-cnn-business.md) | -1.3% | +20.4% |
| WTI | 2019-04-24 | [Oil falls as supply still adequate despite Iran sanctions, but market tightening - CNBC TV18](https://feedsoft.ai/events/8100-oil-falls-as-supply-still-adequate-despite-iran-sanctions-but-market-tightening.md) | -3.6% | -4.9% |
| WTI | 2026-04-08 | [WTI at $94 as Oil Tumbles Amid Tenuous Iran Ceasefire](https://feedsoft.ai/events/6902-wti-at-94-as-oil-tumbles-amid-tenuous-iran-ceasefire.md) | -18.9% | -8.3% |
| WTI | 2026-05-24 | [Oil tumbles nearly 7% as US and Iran seen moving closer to deal \| Reuters](https://feedsoft.ai/events/12722-oil-tumbles-nearly-7-as-us-and-iran-seen-moving-closer-to-deal-reuters.md) | -4.4% | -25.2% |
| BRENT | 2018-07-11 | [Crude oil falls after US softens stance on Iranian sanction waivers - The HinduBusinessLine](https://feedsoft.ai/events/10097-crude-oil-falls-after-us-softens-stance-on-iranian-sanction-waivers-the.md) | -8.7% | -6.2% |
| BRENT | 2026-03-10 | [Oil prices dive as Trump says Iran war will end ‘very soon’ \| CNN Business](https://feedsoft.ai/events/6630-oil-prices-dive-as-trump-says-iran-war-will-end-very-soon-cnn-business.md) | +4.1% | +27.2% |
| BRENT | 2019-04-24 | [Oil falls as supply still adequate despite Iran sanctions, but market tightening - CNBC TV18](https://feedsoft.ai/events/8100-oil-falls-as-supply-still-adequate-despite-iran-sanctions-but-market-tightening.md) | -2.6% | -2.5% |

## Sources

- cnbc.com: https://www.cnbc.com/2018/07/16/oil-falls-as-mnuchin-says-oil-buyers-may-get-iran-sanctions-waivers.html

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