Oil prices fall ahead of US Iran sanctions announcement

Oil prices fell on Monday as traders positioned themselves ahead of an anticipated announcement from the United States detailing what officials have described as the toughest economic sanctions ever imposed on Iran. The expected measures, which could further disrupt Middle Eastern energy supplies, come amid a stalemate in peace talks and ongoing conflict in the region. Brent crude, the international benchmark, traded down by over 1 percent in early Asian and European sessions, while U.S. West Texas Intermediate futures also declined. The drop occurred as investors awaited specifics from a press conference scheduled for later in the day by U.S. Treasury Secretary Scott Bessent.