Oil prices decline as traders await Treasury Secretary Scott Bessent's detailed Iran sanctions announcement on August 24, after Brent crude

Oil prices eased Friday but remained on track for a second straight weekly gain as hopes of a swift reopening of the Strait of Hormuz faded to near-zero.

SINGAPORE: Oil prices slipped more than $1 a barrel on Monday as investors took profits ahead of an expected announcement from Washington about imposing more sanctions on Iran…

Both main crude contracts were down 2.3 per cent, with the Brent benchmark sitting at US$92 a barrel.