Iran oil: US lifts sanctions, says ~140 million barrels to market

The U.S. administration announced a limited, temporary lifting of sanctions on some Iranian oil shipments, narrowly authorising sales of crude already at sea in an effort to ease sharply rising energy prices.

Treasury Secretary Scott Bessent posted on X that the exemption applies to cargoes loaded before a specified cutoff and that, by unlocking that stranded supply, the United States expects to quickly put roughly 140 million barrels into global trade. Officials said the measure is time‑bound and includes safeguards intended to limit direct financial benefit to Iran.

Markets reacted immediately: Brent crude climbed toward roughly $112 a barrel on the news while equity indices showed downside pressure as investors reassessed near‑term supply dynamics. Separately, market reports indicate that disruptions around the Strait of Hormuz have left about 140 million barrels unable to reach refiners, amplifying the immediate risk premium on crude.

The decision forms part of a broader package of emergency responses that include releases from strategic reserves and temporary waivers for other producers’ cargoes. International Energy Agency members have also mobilised emergency stocks in recent days, though analysts caution that such measures typically provide only short windows of relief rather than a structural correction to supply constraints.

Analysts say the waiver may moderate short‑term price spikes if the eligible barrels are competitively marketed and logistical bottlenecks are resolved, but they warn that sustained volatility will likely persist while maritime security risks and regional infrastructure damage remain. Key near‑term indicators to watch include actual volumes sold, the identity of buyers, insurance and shipping premiums, and any further tactical or policy shifts by Washington.