Crude oil futures traded lower on Friday morning despite the US threat to impose the ‘toughest sanctions in history’ on Iran.
At 9.38 am on Friday, October Brent oil futures were at $93.46, down by 0.34 per cent, and October crude oil futures on WTI (West Texas Intermediate) were at $86.40, down by 0.50 per cent. September crude oil futures were trading at ₹8282 on Multi Commodity Exchange (MCX) during the initial hour of trading on Friday against the previous close of ₹8304, down by 0.26 per cent, and October futures were trading at ₹8123 against the previous close of ₹8142, down by 0.23 per cent.
US Treasury Secretary Scott Bessent, told CNBC that the US would impose the ‘toughest sanctions in history’ on Iran. “If we are doing the maximum economic pressure, then that means that likely there will not be a large-scale kinetic restart,” Bessent said. Kinetic restart is a term used to refer military force.
The Trump administration’s plan to crush Iran’s economy will likely negate the need for major US military operations against Iran, he said.
US President Donald Trump had stated on Wednesday that the US plans to choke Iran’s economy by levying major penalties against any country that provides ‘any type of lifeline’ to Iran. “This will be an ECONOMIC D-DAY, and we need all of our Allies to stand with the United States of America to isolate, and defeat, the Iran threat,” he said.
September natural gas futures were trading at ₹267.70 on MCX during the initial hour of trading on Friday against the previous close of ₹265.20, up by 0.94 per cent.
Published on August 21, 2026
