Skip to content
Guavy Logo GUAVY
Sign up
Back to Guavy Wire
Commodities

Oil Prices Plummet Amid US Pressure on Iran

Guavy AI Editorial Team
Instruments
Oil
Share

Oil prices declined on August 24 amid expectations of new US pressure on Iran. The price of Brent crude fell by more than 1%, trading at around $93 per barrel, while WTI dropped 2.3% to about $85 a barrel.

The decrease is not necessarily a sign that geopolitical risks have decreased, but rather a reflection of investors realizing profits from the previous week's rally.

US Treasury Secretary Scott Bessent warned of stricter economic sanctions against Iran and its trading partners, with main concerns being the possibility of restrictions on Iranian oil shipments and vessel movement in the Strait of Hormuz, where about 20% of global oil supplies transit.

More on Commodities

Commodities 1m ago

Malaysia Palm Oil Prices Plummet Amid Soyoil Selloff

Commodities 1m ago

Oman Crude Oil Price Drops by $2.22 to $97.39 Per Barrel

Commodities 2m ago

Oil Prices Rebound on Escorted Hormuz Flows, But Sanctions Loom

Disclaimer: Guavy is a data and market intelligence provider, not an investment adviser. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

Guavy Logo GUAVY

Market sentiment intelligence for apps, funds & agents

Location

729 55 Ave SW
Calgary AB T2V 0G4
Canada

Navigate

Markets

Resources

© 2026 Guavy Inc

Terms Privacy Policy