🔻Oil prices fall amid U.S. announcement of new sanctions against Iran

With the start of trading in Asian markets on Monday morning, oil prices fell slightly.

According to Reuters, the Brent crude oil futures contract price fell by more than 1% to $93.45 per barrel, and the U.S. oil futures contract price also fell by more than 1% to $86.14 per barrel.

Scott Bessent, the U.S. Treasury Secretary, said today is Iran’s “fate-defining economic day,” and that a press conference will be held on Monday afternoon to announce these sanctions.