Crude oil price traded higher on Tuesday morning.

The US Treasury Department announced new sanctions on 60 individuals, entities and vessels. 
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Crude oil futures traded higher on Tuesday morning as markets analysed the impact of US secondary sanctions against Iran.

At 10.01 am on Tuesday, November Brent oil futures were at $90.71, up by 0.19 per cent, and October crude oil futures on WTI (West Texas Intermediate) were at $85.26, up by 0.29 per cent. September crude oil futures were trading at ₹8167 on Multi Commodity Exchange (MCX) during the initial hour of trading on Tuesday against the previous close of ₹8135, up by 0.39 per cent, and October futures were trading at ₹8031 against the previous close of ₹7991, up by 0.50 per cent.

On Monday, US Treasury Secretary Scott Bessent announced an expansion of sanctions to cut off Iran’s economy. The US Treasury Department announced new sanctions on 60 individuals, entities and vessels. However, the list did not include any of the Chinese financial institutions suspected of facilitating oil trade of Iran.

Bessent also declined to identify the countries that would be targeted or reveal when those penalties would take effect.

In their Commodities Feed for Tuesday, Warren Patterson, Head of Commodities Strategy of ING Think, and Ewa Manthey, Commodities Strategist, said the market seems largely unfazed by Washington’s push for tighter economic pressure on Iran, with traders treating the US effort to nudge partners away from Iranian trade as marginal rather than market‑moving.

The US announced more than 70 Iran-related sanctions and is threatening secondary sanctions on those that do not cut trading ties with Iran. “However, China is the largest buyer of Iranian energy. It remains unclear whether the US would risk a fragile trade truce with Beijing over secondary sanctions. The market is still awaiting further details on a possible timeline for trading partners to wind down ties with Iran,” they said.

September natural gas futures were trading at ₹269.80 on MCX during the initial hour of trading on Tuesday against the previous close of ₹272.10, down by 0.85 per cent.

On the National Commodities and Derivatives Exchange (NCDEX), September cottonseed oilcake contracts were trading at ₹3225 in the initial hour of trading on Tuesday against the previous close of ₹3270, down by 1.38 per cent.

October dhaniya futures were trading at ₹16538 on NCDEX in the initial hour of trading on Tuesday against the previous close of ₹16578, down by 0.24 per cent.

Published on August 25, 2026