Oil Prices Slide 2% as Markets Brace for Bessent’s ‘Economic D-Day’

Oil prices fell by more than 2% in early Asian trade on Monday as traders took profits and markets awaited details of a new U.S. sanctions package against Iran. At the time of writing, WTI futures were trading at $85.18 per barrel, down 2.16%, while Brent futures were trading at $92.32 per barrel, down 2.19%. Both benchmarks gained more than 5% last week as the U.S. and Iran continued to trade threats, Iranian crude exports dropped, and tanker traffic through the Strait of Hormuz slowed to a trickle. Today’s pullback appears to be driven…