Oil Prices Slip as Markets Await New US Sanctions on Iran
Global oil prices edged lower on Monday as investors awaited details of new US sanctions expected to be imposed on Iran.
Oil prices declined at the start of trading in Asian markets, with investors closely watching Washington for an announcement on additional measures against Tehran.
According to Reuters, Brent crude fell by more than 1% to $93.45 per barrel, while US crude also declined by more than 1% to $86.14 per barrel.
US Treasury Secretary Scott Bessent said Iran was approaching an “economic D-Day,” signaling potentially significant new measures against the country.
Bessent is expected to announce the new sanctions against Iran at a press conference on Monday afternoon.
Markets are closely monitoring the announcement for its potential impact on Iran’s oil exports and global crude supplies.
