Oil Falls Over $4 as US-Iran Tensions Rise

Oil falls over $4 as US-Iran tensions escalate. Brent at $98.90, WTI at $92.18.

Today / 22:20|Last updated: Today / 22:23

Oil Falls Over $4 as US-Iran Tensions Rise — Photo: Prepared by Bond.az

Oil prices dropped sharply on Monday as the US and Iran remained at odds over a peace deal. Concerns about restrictions on Middle East oil shipping through the Strait of Hormuz persist.

Brent crude futures fell $4.64 to $98.90 per barrel. US West Texas Intermediate (WTI) dropped $4.42 to $92.18 per barrel.

Traders are watching for further developments that could affect global economic growth.

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