Oil prices slide as US unveils fresh Iran sanctions

channelnewsasia.com

Oil prices fell more than two percent on Monday as US Treasury Secretary outlined new sanctions against Iran, while stock markets showed mixed results ahead of key economic data and corporate earnings. The announcement expanded Washington's secondary sanctions threats but named no specific countries beyond Iran and gave no timelines. Analysts described market moves as "pretty muted" ahead of an "eventful week" featuring US inflation data and Nvidia earnings. Asian markets saw technology stocks decline, with South Korea's Kospi dropping over three percent. The Canadian dollar fell 0.7 percent after US-Canada trade talks broke down, while investors awaited the Jackson Hole central bankers meeting.


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