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Oil prices declined by more than 2% following the announcement by the Trump administration of a new wave of sanctions against Iran, including expanding secondary sanctions to cut off Iran's funding sources. This led to a drop in Brent crude futures to $92.17 per barrel and U.S. crude to $85.01, amid decreasing U.S. Treasury reserves, volatile stock markets, and Washington's targeting of China, Iran's largest importer of Iranian oil. Additionally, the U.S. announced an economic isolation of Iran aimed at weakening its financing, warning countries and companies that deal with it. The impact of these sanctions on energy prices and financial markets remains under close watch.
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