Trump threatens Iran sanctions, oil rises
Analysis based on 7 articles · First reported Aug 21, 2026 · Last updated Aug 22, 2026
Oil prices rose on supply disruption fears, with Brent and WTI posting weekly gains. The threat of sanctions and ongoing Hormuz disruptions support elevated crude prices, while alternative supplies from US shale, Venezuela, and UAE partially offset losses.
US President Donald Trump threatened economic sanctions on Iran's trading partners, raising expectations of tighter oil supply. Brent crude settled at $94.39 a barrel, up 0.65%, and WTI at $87.06, up 0.26%, with both benchmarks gaining over 5% for the week. Iran warned of a 'devastating' response to new US threats. The US naval blockade continues to constrain Iranian exports, and traffic through the Strait of Hormuz remains well below normal, with only seven commodity ships transiting on Thursday. The earlier US-Iran peace deal expired without restart talks. Supply curtailments from major producers like Saudi Arabia, Iraq, UAE, and Kuwait persist. Separately, Ukraine's military hit a Russian oil refinery in Perm.
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