Oil prices have declined after rising for two consecutive weeks, and the market is awaiting the economic isolation plan against Iran scheduled to be announced by the US late Monday. The price of Brent crude oil fell back to $93 per barrel, with a cumulative increase of about 13% over the previous two weeks; West Texas Light crude was close to $86 per barrel. US Treasury Secretary Scott Bessent will announce the details of the plan at a press conference. He is also trying to step up pressure on US allies to participate in this operation. In a review article, Bezent wrote, “Iran's accomplices are purchasing and transporting Iranian oil. These countries should carefully weigh the consequences of continuing to support Iran.” Chris Weston, head of research at Pepperstone Group, said that this article has outlined the framework for a plan to put pressure on Iran's economy.

Oil prices have declined after rising for two consecutive weeks, and the market is awaiting the economic isolation plan against Iran scheduled to be announced by the US late Monday. The price of Brent crude oil fell back to $93 per barrel, with a cumulative increase of about 13% over the previous two weeks; West Texas Light crude was close to $86 per barrel. US Treasury Secretary Scott Bessent will announce the details of the plan at a press conference. He is also trying to step up pressure on US allies to participate in this operation. In a review article, Bezent wrote, “Iran's accomplices are purchasing and transporting Iranian oil. These countries should carefully weigh the consequences of continuing to support Iran.” Chris Weston, head of research at Pepperstone Group, said that this article has outlined the framework for a plan to put pressure on Iran's economy.