Crude oil is trading lower on Monday, 24 August, following a rally of approximately 13% over the past two weeks, as tensions in the Middle East remain elevated and investors weigh what may come next. The United States is expected to unveil a plan on Monday to further isolate the Iranian economy in an effort to pressure Tehran back to the negotiating table.
Brent crude, the European benchmark, fell 1.5% to $92.97 per barrel in morning trading, while West Texas Intermediate (WTI), the US benchmark, declined 2% to $85.32 per barrel. Since the start of the year, oil has gained more than 50%, with the conflict between Washington and Tehran — now entering its sixth month — disrupting oil and natural gas flows across the globe.
It remains unclear how the United States can exert further pressure on Iran's economy, given that the country already faces an extensive array of heavy international sanctions. One scenario considered by analysts involves Washington targeting China — Tehran's largest oil buyer — though the details are expected to be disclosed by US Treasury Secretary Scott Bessent at a press conference later on Monday.
"Those who support Iran buy and ship its oil. They would do well to consider the consequences of continuing to back the country," Bessent wrote in an opinion piece published in the Financial Times. For Chris Weston, Head of Research at Pepperstone Group, the article clearly outlines the Treasury Secretary's objectives regarding Tehran.
"The fact that he titled his opinion piece 'D-Day Is Coming for Iran' hardly suggests he is here to make friends. We should expect a defiant message," the analyst said, adding: "Any defiant plan aimed at significantly disrupting Iranian crude imports carries significant execution and reaction risks."
Source: Diário Económico
Original article: https://www.diarioeconomico.co.mz/2026/08/24/mercados/commodities/petroleo-em-queda-apos-subir-13-nas-duas-ultimas-semanas/
