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The Economic Times

Business

Veer Sharma

Oil Price Today (August 24): Crude oil slips below $93 ahead of US sanctions announcement on Iran. What are experts saying?

Oil United States Iran Scott Bessent Donald Trump Goldman Sachs Strait of Hormuz

Oil prices fell by more than $1 a barrel on Monday as investors booked profits ahead of an expected announcement from Washington on additional sanctions against Iran, which could further disrupt supplies from the Middle East.

US Treasury Secretary Scott Bessent, who is scheduled to hold a press conference at 2 p.m. EDT (1800 GMT) on Monday, has threatened to impose "the toughest sanctions in history" on Iran. US President Donald Trump has also threatened sanctions against countries trading with Iran.

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