Commodities
Brent Price Falls on Renewed US Threats Against Iran
Oil futures were mixed in a choppy trading session on Friday as the market priced renewed US threats against Iran. The Brent price fell for the day, influenced by stockbuilds and weaker fundamentals.
The threat of new economic measures against Iran has added uncertainty to the global oil market. On August 14, the UAE accused Iran of attacking two vessels affiliated with Adnoc in the Strait of Hormuz.
Meanwhile, US Treasury Secretary Steven Mnuchin announced that the US will announce new economic measures against Iran next week while maintaining its blockade of Iranian ports.