Oil Falls as Trump Pledges ‘Most Crushing’ Economic Campaign Against Iran
Global oil prices have declined as markets react to President Trump's pledge to implement a 'crushing' economic campaign against Iran. Investors are also weighing the impact of broader Middle East tensions and cooling sentiment in the technology sector.
Why it matters
Escalating economic sanctions against Iran threaten to disrupt global energy supplies and increase market volatility, affecting international trade and inflation.
Markets brace for tougher US measures against Tehran as Brent crude falls toward $92 a barrel amid broader investor concerns over the Middle East conflict and global economy
ERBIL (Kurdistan24) - Oil prices fell on Monday as investors awaited details of a new US campaign to isolate Iran's economy, with President Donald Trump describing the initiative as the "most crushing" financial operation ever directed against Tehran.
Both major crude benchmarks declined about 2 percent in early trading, with Brent crude falling to around $92.68 a barrel and West Texas Intermediate dropping to $85.39.
US Treasury Secretary Scott Bessent is expected to provide further details on the administration's plan during a news conference on Monday.
Washington warned its allies and China last week to support Trump's renewed effort to intensify economic pressure on Iran as the conflict in the Middle East approaches the six-month mark.
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