Oil falls as U.S. weighs releasing sanctioned Iranian crude to cool prices

Group 1 - Oil prices increased by up to 3% following Iran's attacks on energy facilities in the Middle East after a strike on its South Pars gas field [1] - U.S. oil prices continued to decline as Treasury Secretary Scott Bessent indicated that sanctions on Iranian crude stored on tankers may soon be lifted, which aims to alleviate price pressures after Iran's closure of the Strait of Hormuz [1] Group 2 - Brent crude, the international benchmark, decreased by 2% to $106 per barrel, while U.S. oil prices fell by 1.56% to $94.64 per barrel [2] - Bessent mentioned that approximately 140 million barrels of sanctioned Iranian oil on the water may be unsanctioned, which could help stabilize prices over the next 10 to 14 days [2]