Brent Extends Fall as US Tightens Iran Sanctions

2026-08-24 23:22 By Jam Kaimo Samonte 1 min. read

Brent crude fell toward $90 per barrel on Tuesday, extending losses from the previous session as the US intensified economic pressure on Iran and its trading partners, with China reportedly not exempt from the measures.

Treasury Secretary Scott Bessent announced plans to isolate Iran through sanctions targeting countries that continue doing business with the Islamic Republic, while President Donald Trump said those nations would be given a specific timeline to sever ties with Tehran or face unilateral US penalties.

However, markets remain uncertain over whether the US measures will help accelerate or instead delay a potential resolution to the US-Iran conflict and the full reopening of Hormuz.

Meanwhile, risks to energy flows in the Middle East remain elevated, with the UK Navy reporting that an oil tanker was struck and disabled near Oman, while Iran-backed Houthi militants said they had fired on a Saudi Arabian supertanker sailing through the Red Sea.



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