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WTI slips toward $85 ahead of new US sanctions on Iran

WTI fell 1.5% on Monday as investors positioned for a US sanctions package expected to target Iranian oil exports and partners.

Reported · Written up by our desk · Energy

West Texas Intermediate crude slid 1.5% on Monday, trading around $85 as traders took profits after recent gains ahead of an expected new US sanctions package aimed at Iran, according to FXStreet.

The newswire said US Treasury Secretary Scott Bessent is due to unveil the measures later on Monday, with the campaign described as an economic offensive intended to isolate Iran by pressuring its trading partners.

FXStreet added that the potential focus on Iranian oil exports and on companies that buy and transport Iranian crude could further disrupt supply already affected by existing disruptions.

At the same time, the outlet noted Iran’s stance that partners such as China and Turkey are unlikely to sever ties, with escalation raising risks around the Strait of Hormuz, a key shipping corridor for a large share of global oil supply.

Latest closeWTI crude $82.40 ▲1.4%

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