Oil Prices on August 24: Brent Falls by $1.23

On August 24, oil prices dropped by more than $1 per barrel. Futures for Brent crude fell by $1.23, or 1.3%, to $93.16. American oil, West Texas Intermediate, decreased by $1.36, or 1.6%, to $85.7 per barrel. The price decline is linked to expectations of new U.S. sanctions against Iran, which could heighten the risks of oil supply disruptions from the Middle East. U.S. Treasury Secretary Scott Bessen announced strict restrictions, while President Donald Trump expressed readiness to extend sanctions to Tehran's trading partners. Commonwealth Bank of Australia analyst Vivek Dhara noted that successful economic isolation of Iran could lead to active attacks, creating additional risks for the energy market. Iran has already condemned Washington's plans for new sanctions, calling for a diplomatic resolution to the conflict. In Ukrainian gas stations, fuel prices remain stable despite rising global oil quotes amid geopolitical tensions.

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