– Oil prices eased slightly on Tuesday as traders gauged the potential for supply disruptions after U.S. guidance for vessels transiting the Strait of Hormuz kept attention squarely on tensions between Washington and Tehran. Brent crude oil futures were down 25 cents, or 0.4%, at $68.79 a barrel by 0102 GMT. About a fifth of the oil consumed globally passes through the Strait of Hormuz between Oman and Iran, making any escalation in the area a major risk to global oil supplies. The move is part of efforts to tighten sanctions on Russian oil, a key source of revenue for Moscow, over the war in Ukraine. Indian Oil Corp (IOC.NS) bought six million barrels of crude from West Africa and the Middle East, traders said, as the Asian country steered clear of Russian oil in New Delhi’s push for a trade deal with Washington.

Source: The Patriot February 10, 2026 15:15 UTC