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NEW YORK: Oil prices fell more than $2 a barrel on Monday as investors took profits after recent gains and awaited details of expected new US sanctions on Iran, which could further disrupt supplies from the Middle East.
Brent crude futures were down $1.71, or 1.81 per cent, to $92.69 at 12:48 p.m. ET (1648 GMT), while US West Texas Intermediate crude was at $85.34 a barrel, down $1.72, or 1.98pc.
Both contracts posted a second consecutive weekly gain last week, rising more than 5pc, as peace negotiations between the US and Iran stalled, constraining oil shipments through the Strait of Hormuz, a route that once carried a fifth of global supplies.
Published in Dawn, August 25th, 2026
