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Oil Prices Plummet as US Threatens Iran Sanctions

Guavy AI Editorial Team
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Oil
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Oil prices plummeted on Monday, August 24, 2026, as investors took profits ahead of a potential announcement from the US government about imposing new sanctions on Iran.

The Brent crude futures fell $1.23, or 1.3%, to $93.16 by 0329 GMT, while U.S. West Texas Intermediate crude was at $85.7 a barrel, down $1.36, or 1.6%

Analyst Tony Sycamore believes that the Iranian leadership is divided between those who want to de-escalate and hardliners who would prefer to fight on.

The US has threatened to impose 'the toughest sanctions in history' on Iran, while President Donald Trump also threatened to target Tehran's trading partners

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