Brent Crude Slips Ahead of Expected Iran Sanctions

Brent crude oil dropped to around $93 per barrel after a sharp weekly rally, as investors took profits ahead of an expected announcement from Washington on additional sanctions against Iran.

US Treasury Secretary Scott Bessent said Washington would impose the “toughest” sanctions in history, describing the measures as an unprecedented campaign of economic isolation designed to pressure Iran and its trading partners into compliance.

The threat comes as tensions around the Strait of Hormuz remain elevated, with Iran still capable of disrupting shipping and energy infrastructure in the region.

Tehran dismissed the sanctions threat, saying it could counter the measures’ effects while maintaining economic ties with other countries.

Meanwhile, markets remain uncertain whether additional economic pressure would change Iran’s behavior, noting that the country still has significant capabilities to disrupt regional flows.