Economy

Oil Holds Near $92 as Markets Weigh Expanded U.S. Iran Sanctions

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Courtroom-sketch editorial illustration of a sprawling oil refinery complex with tall distillation towers, dense steel pipework, a grassy foreground, and an access road beneath a cloudy sky, drawn in warm ochre and slate-blue pastel with cross-hatching on sepia newsprint.

At 05:00 UTC, October Brent crude slipped 0.07% to $92.11 a barrel as markets weighed expanded U.S. economic pressure on Iran. Brent had closed Monday at $92.17, down 2.35%, ending a six-session winning streak. The campaign announced by Treasury Secretary Scott Bessent covers digital assets, technology, gold, aviation and shipping, broadening pressure on Tehran. Oil nevertheless held close to the prior settlement in early trading, with the market absorbing the sanctions expansion rather than extending Monday's decline in the measured opening move.

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