Brent Drops 1.87% as Bessent Vows to Sever Iran’s Economic Lifelines

Brent crude fell 1.87% to $92.63 on Monday, giving back part of last week's rally as traders assessed Washington's escalating pressure campaign on Iran.

West Texas Intermediate slid 1.97% to $85.35. The selling ran across the energy complex, with natural gas, gasoline, and heating oil each losing between 1.68% and 1.88%.

Why Oil Prices Fell While Washington Escalated

Both benchmarks gained more than 5% last week on the escalating rhetoric. President Donald Trump on August 19 announced what he described as the "most crushing economic operation ever taken against any country."

Trump said the measures would target Iran's economy and isolate the country internationally, while warning that nations providing financial, commercial, or other support to Tehran could face severe economic consequences.

"This will be an ECONOMIC D-DAY, and we need all of our Allies to stand with the United States of America to isolate, and defeat, the Iran threat," he said.

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