Oil prices have fallen as a result of the escalation in Iran and the threat of sanctions

Oil prices fell slightly in the Monday Globex deal, which was linked to the escalation of the situation in Iran and the threat of sanctions over the weekend. According to recent reports, the Minister of Finance, Scott Bessent, will convene a press conference on Monday afternoon to announce the harshest sanctions in Tehran ' s history. In addition, Mohsen Rezaei, Secretary of the Supreme State Security Council of Iran, warned that if the economic war continued, Iran would cease all oil exports in the Gulf region. On Friday, Brent crude oil prices were close to US$ 94, WTI crude oil was close to US$ 87, and crude oil prices increased by about 5 to 6 per cent during the past week。