Oil prices fell in Asian trading on Monday morning as investors awaited details of possible new US sanctions on Iran. Brent crude futures dropped by more than 1% to $93.45 a barrel, while US crude futures also declined by more than 1% to $86.14 a barrel. The report was published on August 24, 2026.

US Treasury Secretary Scott Bessent had previously said an “economic D-Day” was coming for Iran. He was scheduled to hold a news conference on Monday afternoon regarding the announcement of new sanctions against Iran. Investors were watching Washington’s expected announcement closely.

The scope and nature of the potential sanctions had not yet been fully clarified. Their possible effect on Iran’s oil exports and supplies to international markets has become an important issue for the oil market. Market participants were awaiting further information on whether the measures would affect Iranian crude flows and global supply.