Oil prices experienced a decline on Monday as investors awaited the announcement of new economic measures from the United States aimed at increasing pressure on Iran. Brent crude, the international oil benchmark, decreased by 1.8%, settling at approximately $93 per barrel. Meanwhile, West Texas Intermediate (WTI), the US benchmark, fell by 2.3%, reaching around $85 per barrel.
Even after Monday’s fall, Brent is still nearly 30% higher than it was before the war began, according to The New York Times. The main focus for markets is now on what new steps President Donald Trump’s administration will take against Iran.
Bessent has described the move as an “economic D-Day” for Iran. In an opinion article in the Financial Times, Bessent said the six-month war with Iran was “entering the endgame.” US Treasury Secretary Scott Bessent is expected to announce details of the new measures on Monday afternoon in Washington.
