# U.S. oil prices hit three-and-a-half-year high on concern over Iran sanctions

> WTI settled at $73.45, reaching its highest level since November 2014 as U.S. sanctions threatened a large drop in Iranian crude exports. Unplanned outages in Canada, Libya and Venezuela also supported prices.

- Date: 2018-06-28 · published 2018-06-28T12:00:00.000Z
- Category: geopolitics · region Iran · magnitude medium
- Page: https://feedsoft.ai/events/8780-u-s-oil-prices-hit-three-and-a-half-year-high-on-concern-over-iran-sanctions
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Sanctions-driven supply risk on top of existing outages keeps upward pressure on crude, which feeds through to energy and freight costs for feed buyers.

## Read by commodity

- WTI: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2018-09-29 | [Brent hits 4-year high as U.S. sanctions on Iran tighten supply](https://feedsoft.ai/events/63234-brent-hits-4-year-high-as-u-s-sanctions-on-iran-tighten-supply.md) | +1.5% | -7.7% |
| WTI | 2026-05-17 | [Oil prices rise 3% to two-week high on Iran war supply concerns \| Reuters](https://feedsoft.ai/events/19430-oil-prices-rise-3-to-two-week-high-on-iran-war-supply-concerns-reuters.md) | -8.1% | -22.7% |
| WTI | 2025-03-20 | [Oil prices settle $1 higher after US issues new Iran-related sanctions](https://feedsoft.ai/events/25757-oil-prices-settle-1-higher-after-us-issues-new-iran-related-sanctions.md) | +3.9% | -6.8% |
| WTI | 2026-04-30 | [Oil retreats after hitting four-year high on concern of US-Iran war escalation \| Reuters](https://feedsoft.ai/events/19881-oil-retreats-after-hitting-four-year-high-on-concern-of-us-iran-war-escalation.md) | -10.8% | -16.4% |
| WTI | 2018-09-14 | [Oil prices rise ahead of deadline for US sanctions on Iran \| The National](https://feedsoft.ai/events/63206-oil-prices-rise-ahead-of-deadline-for-us-sanctions-on-iran-the-national.md) | +3.2% | +3.5% |

## Sources

- reuters.com: https://www.reuters.com/article/us-global-oil/u-s-oil-prices-hit-3-1-2-yr-high-on-concern-over-iran-sanctions-idUSKBN1JO06R/

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