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The Economic Times
The Economic Times
Business

Oil falls ahead of US announcement on new Iran sanctions

Iran Oil United States Scott Bessent Middle East

Oil prices slipped more than $1 a barrel on ​Monday as investors took profits ​ahead of an expected announcement from Washington about imposing more ​sanctions on Iran that may further disrupt supplies from the Middle East.

Brent crude futures fell $1.22, or 1.29%, to $93.17 by 0035 GMT, while U.S. West Texas Intermediate crude was at $85.86 ‌a barrel, down $1.20, ⁠or ⁠1.38%.

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