Energy Preview: Crude oil futures down by over 1% in early Asia

Crude oil futures fell by over 1% on Monday morning in Asia on possible profit booking after the counter hit a one-month peak. Markets are also staying cautious ahead of an expected US announcement regarding stricter sanctions against Iran. As per reports, US Treasury Secretary Scott Bessent stated that Washington plans to impose the toughest sanctions in history, framing the measures as an unprecedented campaign of economic isolation designed to compel Iran and its trade partners into compliance. This policy shift threatens to further constrain global energy markets, particularly as Iranian oil shipments face severe disruptions and offers to Chinese buyers have dropped off amid an ongoing US naval blockade. WTI crude oil is quoting around $85.73 per barrel this morning while Brent is hovering around $93.16 per barrel.

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