US Readies Crushing Campaign Against Iran, Oil Prices Fall

Oil prices fell on Monday as investors braced for details of a US plan to isolate Iran's economy. The US Treasury Secretary, Scott Bessent, announced that he would give more information at a news conference about the plan, which President Donald Trump has called 'the most crushing' financial operation ever mounted against Tehran.

The plan aims to pile economic pressure on Iran, and the US warned allies and China to join in. However, Vice President JD Vance acknowledged that this could be a 'delicate dance', as Iran may try to apply economic pressure back on the US.

Asian stocks were mostly down in early trading, with South Korea's tech-rich Kospi falling 1.4 percent after Samsung Electronics spent $80 billion buying back its own shares following turbulent trading.