Oil prices fall as investors await 'toughest' U.S. sanctions on Iran
Oil prices fell Monday as investors awaited details of what Washington has billed as its toughest-ever sanctions campaign against Iran.
TL;DR
- Oil prices fell on Monday, with WTI futures declining 1.62% to $85.65 and Brent crude losing 1.38% to $93.09.
- The U.S. is preparing to unveil its toughest-ever sanctions campaign against Iran, aiming to economically isolate the country.
- Iran has expressed confidence in its ability to counter the sanctions and maintain economic relations with other countries.
- Analysts expect oil price volatility in the second half of the year, with potential for prices to fall if oil flows through the Strait of Hormuz recover.
- Commonwealth Bank of Australia forecasts Brent crude to trade between $70 and $100 a barrel in the second half of 2026.