Oil Falls Ahead of US Announcement on New Iran Sanctions
West Texas Intermediate and Brent crude fell about 1% as traders awaited details of Washington’s toughest-ever sanctions campaign against Iran.
- Treasury Secretary Scott Bessent is scheduled to hold a press conference on Monday to outline a new sanctions package against Iran as oil prices slip ahead of the anticipated measures.
- President Donald Trump last week threatened the "most crushing economic operation ever taken against any country" against Iran, warning of penalties for countries helping Tehran evade sanctions.
- West Texas Intermediate futures declined about 1.3% to $85.93 per barrel on Monday, while Brent crude lost 1.24% to $93.22 ahead of the announcement.
- Iran condemned the planned sanctions, though President Masoud Pezeshkian called for a diplomatic solution; analyst Tony Sycamore noted hardliners likely prefer to fight to the bitter end.
- Commonwealth Bank of Australia analysts warned that if measures succeed in isolating Iran, the country's potential response via increased violence poses a growing risk for energy markets, with Brent trading between $70 and $100 per barrel.
28 Articles
28 Articles
Oil falls as Trump pledges economic war on Iran
Oil prices fell as investors awaited details of President Donald Trump’s fresh economic pressure campaign against Iran, while Asian markets traded mostly lower. Brent crude fell 2.3% to around $92 a barrel, with investors also eyeing Nvidia’s earnings and the Jackson Hole meeting
Oil falls as markets await new US sanctions on Iran
Singapore: Oil prices fell more than US$1 a barrel on Monday as investors locked in profits ahead of an expected announcement by the United States on new sanctions targeting Iran, raising fresh concerns about energy supplies from the Middle East.Brent crude futures declined US$1.23, or 1.3%, to US$93.16 a barrel, while US West Texas Intermediate (WTI) crude fell US$1.36, or 1.6%, to US$85.70 a barrel.Despite Monday's decline, both benchmarks rec…
US Treasury Secretary Scott Bessent had previously threatened Iran with "the toughest sanctions in history." Read the latest developments in the live ticker.
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