# Oil falls as US allows Iran sanctions waivers

> U.S. crude settled at $63.14 after dropping 6.6 percent for the week, its fourth straight weekly loss. Secretary of State Mike Pompeo said several buyers, including eight jurisdictions reportedly including South Korea, Japan and India, would receive sanctions waivers to keep importing Iranian oil.

- Date: 2018-11-02 · published 2018-11-02T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/9156-oil-falls-as-us-allows-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

Waivers letting major buyers keep importing Iranian crude add supply to a market already filling inventories, pressuring crude lower.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2018-11-03 | [U.S. allows eight importers to keep buying Iran oil for now \| Reuters](https://feedsoft.ai/events/9153-u-s-allows-eight-importers-to-keep-buying-iran-oil-for-now-reuters.md) | -4.7% | -16.1% |
| WTI | 2025-01-20 | [Oil falls as Trump's plan to boost US oil output takes shape](https://feedsoft.ai/events/26687-oil-falls-as-trump-s-plan-to-boost-us-oil-output-takes-shape.md) | -6.3% | -8.0% |
| WTI | 2024-06-03 | [U.S. crude oil falls more than 3% as OPEC+ plans phasing out production cuts](https://feedsoft.ai/events/29656-u-s-crude-oil-falls-more-than-3-as-opec-plans-phasing-out-production-cuts.md) | -1.9% | +8.5% |
| WTI | 2026-03-11 | [Oil prices fall as WSJ says IEA proposes largest oil stock release ever \| Reuters](https://feedsoft.ai/events/6632-oil-prices-fall-as-wsj-says-iea-proposes-largest-oil-stock-release-ever-reuters.md) | +14.9% | +14.3% |
| WTI | 2026-03-01 | [OPEC+ agrees modest oil output boost even as US war on Iran disrupts shipments](https://feedsoft.ai/events/20077-opec-agrees-modest-oil-output-boost-even-as-us-war-on-iran-disrupts-shipments.md) | +35.6% | +50.4% |
| BRENT | 2018-11-03 | [U.S. allows eight importers to keep buying Iran oil for now \| Reuters](https://feedsoft.ai/events/9153-u-s-allows-eight-importers-to-keep-buying-iran-oil-for-now-reuters.md) | -3.3% | -19.1% |
| BRENT | 2025-01-20 | [Oil falls as Trump's plan to boost US oil output takes shape](https://feedsoft.ai/events/26687-oil-falls-as-trump-s-plan-to-boost-us-oil-output-takes-shape.md) | -4.0% | -8.5% |
| BRENT | 2024-06-03 | [U.S. crude oil falls more than 3% as OPEC+ plans phasing out production cuts](https://feedsoft.ai/events/29656-u-s-crude-oil-falls-more-than-3-as-opec-plans-phasing-out-production-cuts.md) | -2.0% | +7.9% |

## Sources

- cnbc.com: https://www.cnbc.com/2018/11/02/oil-markets-rising-crude-output-looming-us-sanctions-on-iran-in-focus.html

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