Global oil prices fall amid new US sanctions threat on Iran

Global crude oil prices fell on Monday as markets weighed the prospect of fresh US sanctions on Iran amid heightened tensions over Washington’s pressure on Tehran.

Brent crude, the international benchmark, fell more than 1% to around $93.45 a barrel in early trading, while US crude prices also declined by more than 1%, according to Al Jazeera.

US Treasury Secretary Scott Bessent said an economic “D-Day” was approaching for Tehran and was scheduled to hold a news conference later Monday to outline details of the new sanctions.

West Texas Intermediate (WTI) crude was trading about 1.3% lower at $85.93 a barrel.

The latest price movement came as traders assessed the potential impact of Washington’s planned measures against Iran, a major oil producer, and their implications for global energy markets.