MNI Oil Weekly: Sanctioned Barrels Building

Download Full Report Here:

Executive Summary:

• Sanctioned Barrels Building: Under increased scrutiny by the Trump administration, sanctioned oil barrels face a host of difficulties placing  into the market in early 2026 as floating levels surge.
• Oil Markets: Brent crude front month has bounced within the $63.3 to $65.15/bbl range since pricing out some Iranian risk sentiment on Jan. 14. Near term Kazakhstan supply concerns have provided support while geopolitical uncertainty remains in focus. Crack spreads have been rising while the market watches for any disruption ahead of the EU ban on products made from Russian oil on Jan. 21.