US Iran Isolation Plan Sends Oil Prices Tumbling

Oil prices declined on Monday after two weeks of gains as investors wait to see the details of the US economic isolation plan for Iran, which is set to be unveiled later in the day. The market has been closely watching this development, and Brent crude fell to around $93 a barrel.

The Treasury Secretary Scott Bessent is scheduled to hold a press conference to reveal the specifics of the plan, which aims to ratchet up pressure on US allies to join the effort.

West Texas Intermediate was trading near $86 a barrel, after adding around 13% over the past two weeks. This decline comes as investors await clarity on the potential impact of the US isolation plan on global oil markets.