Texas oil drops 1.72% as markets await US sanctions plan for Iran

noticiassin.com (Spanish)

Texas WTI crude fell 1.72% to $85.56 per barrel Monday as investors awaited details on a U.S. economic pressure campaign against Iran. Futures for October delivery dropped $1.50 at 13:00 GMT. Treasury Secretary Scott Bessent is expected to announce sanctions plans later today, having stated Washington won't resume kinetic attacks while applying "maximum economic pressure." Bessent cited Venezuela and Cuba as examples of successful blockade strategies. The move comes amid frustration over stalled progress on reopening the Strait of Hormuz or ending the nearly six-month conflict.


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Texas oil drops 1.72% as markets await US sanctions plan for Iran | News Minimalist