Brent crude price at $93.08 per barrel
Oil prices declined ahead of the disclosure of details regarding new U.S. sanctions against Iran.
Report informs, citing trading data, about this.
October futures for Brent crude on the London ICE Futures exchange are trading at $93.08 per barrel, 1.39% below the closing level of the previous session.
WTI crude futures for October in electronic trading on the New York Mercantile Exchange (NYMEX) fell by 1.63% to $85.64 per barrel.
Over the past week, contracts for both grades of oil rose by more than 5%.
Market participants are awaiting the announcement later on Monday of details of the U.S. plan to increase economic pressure on Iran. Last week, U.S. Treasury Secretary Scott Bessent reported that Washington is preparing "the largest coordinated economic isolation in world history."
