Oil fell more than 1.5% as investors awaited US details on new sanctions
targeting Iran. Saxo Bank said Iran’s exports have already been disrupted and
additional sanctions could further tighten global oil supply. In European
morning trade, Brent futures were down 1.5% at $91.30/bbl and WTI futures were
down 1.8% at $85.40/bbl. Both benchmarks rose more than 6% last week after talks
to reopen the Strait of Hormuz stalled and President Trump said he would tighten
economic pressure on Tehran. US Treasury Secretary Bessent is scheduled to hold
a press briefing at 02:00 Beijing time on the 25th, where new economic sanctions
are expected to be announced.
