RismadarVoice Reporters, August 24, 2026
Oil prices fell by about two per cent on Monday as investors awaited details of a new US plan to intensify economic pressure on Iran.
Both major crude benchmarks declined, with Brent crude falling 1.8 per cent to $92.65 per barrel, while West Texas Intermediate dropped 2.3 per cent to $85.06 per barrel.
The decline came after US President Donald Trump pledged what he described as a “most crushing” financial operation against Tehran, as Washington seeks to isolate the Iranian economy.
US Treasury Secretary Scott Bessent was expected to provide further details of the plan, while the United States has urged its allies and China to support the new campaign against Iran.
US Vice President JD Vance acknowledged that the move would be difficult, warning that Iran could attempt to retaliate through economic measures.
The developments came amid broader weakness across Asian markets. South Korea’s Kospi fell more than three per cent, while Tokyo’s Nikkei declined 0.7 per cent and Shanghai’s Composite Index dropped 0.6 per cent.
Investors were also focused on the technology sector, particularly Nvidia’s upcoming earnings report, as markets assess whether the artificial intelligence investment boom can sustain its rapid growth.
Alibaba also announced plans to raise about $10.2 billion through a new share issue in Hong Kong to finance its global AI expansion.
Meanwhile, investors are watching the annual gathering of central bankers and financial officials in Jackson Hole, United States, for signals on the direction of US monetary policy.
Key crude prices at about 0700 GMT: Brent crude: Down 1.8% at $92.65 per barrel
WTI crude: Down 2.3% at $85.06 per barrel
