Brent Crude Plunges Below $93 Amid US-Iran Tensions

Brent crude oil fell below $93 a barrel on Monday as traders awaited details of the US plan to intensify economic pressure on Iran.

The decline marked the end of a two-week rally, with prices dropping more than 2% in a single day.

Treasury Secretary Scott Bessent said the objective is to cut off Tehran's economic lifelines, although the scope for further measures remains uncertain.

Targeting China, the largest buyer of Iranian crude, could increase pressure on Tehran but also risk broader economic repercussions.