{
  "id": 3272802,
  "title": "Oil slides over 3% to hit one-week low as US unveils tough sanctions on Iran",
  "url": "https://urgent.news/2026/08/25/oil-slides-over-3-to-hit-one-week-low-as-us-unveils-tough-sanctions-3272802",
  "topic": "world",
  "section": "World",
  "published": "2026-08-25T13:19:14.000Z",
  "source": {
    "name": "The National UAE",
    "slug": "the-national-uae",
    "url": "https://www.thenationalnews.com/business/energy/2026/08/25/oil-slides-over-3-to-hit-one-week-low-as-us-unveils-tough-sanctions-on-iran/"
  },
  "original_language": "en",
  "account": "Oil prices plummeted over 3% on Tuesday, plummeting below the $90 mark on the Brent benchmark, as investors grappled with the impact of the US's imposing new sanctions on Iran. Brent, which reflects the price of two-thirds of global oil, fell 3.1% to $89.31 per barrel by 3:55pm UAE time. West Texas Intermediate, the gauge tracking US crude, tumbled 3.34% to $82.17 per barrel. The crude market experienced a one-week low after registering significant weekly gains last week, with Brent soaring 6.6% and WTI jumping 5.7%, following the US Treasury Secretary Scott Bessent's announcement of further punitive economic sanctions against Tehran to break the deadlock in talks. The US operation, dubbed Economic Outcast, was announced on Monday, aiming to isolate Iran's economy to resolve the impasse. The Treasury Department announced a broadening of secondary sanctions on companies and nations engaging with Iran, providing every country with a deadline to cease Iran-related activities and serve a final notice to sever economic ties. Analysts at Duncan Oil stated that the markets are stabilising as investors weigh the implications of the expansive new economic sanctions against Iran against underlying shipping constraints and geopolitical flashpoints. Iran's Supreme National Security Council Secretary Mohsen Rezaei warned that Tehran could halt all oil exports through the Strait of Hormuz if the US proceeded with its plan, adding to oil market volatility. Strikes on vessels continued in the crucial waterway, which before the war accounted for about a fifth of the world's energy exports. An unidentified projectile struck an oil tanker off Oman's Musandam peninsula early Tuesday, according to the UK Maritime Trade Operations. The situation has been further complicated by attacks from Yemen's Houthi rebels, particularly targeting Saudi-aligned ships in the Red Sea. The US has conveyed a message to Iran via Pakistan regarding the potential reopening of the Strait of Hormuz, but Tehran has yet to commit to any action. Gold prices, considered a hedge against inflation, eased after reaching a three-month high, with the precious metal inching up 0.1% to around $4,642 per ounce due to a stronger dollar and profit-taking.",
  "summary": "Oil prices slid more than 3 per cent on Tuesday, with Brent falling below $90, as investors digested the potential effects of the sweeping new set of sanctions the US has announced on Iran. Brent, the benchmark for two-thirds of the world's oil, was down 3.1 per cent to $89.31 a barrel at 3.55pm UAE time. West Texas Intermediate, the gauge that tracks US crude, retreated 3.34 per cent to $82.17…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 11,
    "also_reported_by": [
      {
        "outlet": "Times of India",
        "title": "US sanctions 4 Indian firms under ‘Economic Outcast’ over Iran oil and petrochemical trade links",
        "url": "https://urgent.news/2026/08/25/us-sanctions-4-indian-firms-under-economic-outcast-over-iran-oil-and",
        "published": "2026-08-25T10:43:58.000Z"
      },
      {
        "outlet": "The Hill",
        "title": "Bessent slow rolls ‘Economic D-Day’ on Iran",
        "url": "https://urgent.news/2026/08/25/bessent-slow-rolls-economic-d-day-on-iran",
        "published": "2026-08-25T11:19:38.000Z"
      },
      {
        "outlet": "Live Mint",
        "title": "Why China matters to Trump’s new Iran sanctions and how ‘Economic Outcast’ can impact India | Explained",
        "url": "https://urgent.news/2026/08/25/why-china-matters-to-trumps-new-iran-sanctions-and-how-economic",
        "published": "2026-08-25T12:20:28.000Z"
      },
      {
        "outlet": "Quartz",
        "title": "Oil sinks to a one-week low as investors shrug off U.S.-Iran economic war",
        "url": "https://urgent.news/2026/08/25/oil-sinks-to-a-one-week-low-as-investors-shrug-off-u-s-iran-economic",
        "published": "2026-08-25T12:20:38.000Z"
      },
      {
        "outlet": "The Sydney Morning Herald",
        "title": "Beijing warns it will not sever ties with Iran after US vows ‘economic D-Day’",
        "url": "https://urgent.news/2026/08/25/beijing-warns-it-will-not-sever-ties-with-iran-after-us-vows-economic",
        "published": "2026-08-25T12:25:10.000Z"
      },
      {
        "outlet": "The Age",
        "title": "Beijing warns it will not sever ties with Iran after US vows ‘economic D-Day’",
        "url": "https://urgent.news/2026/08/25/beijing-warns-it-will-not-sever-ties-with-iran-after-us-vows-economic-3259146",
        "published": "2026-08-25T12:25:10.000Z"
      },
      {
        "outlet": "Egypt Independent",
        "title": "US is “not in a position” to limit economic relations, Iran’s top negotiator says",
        "url": "https://urgent.news/2026/08/25/us-is-not-in-a-position-to-limit-economic-relations-irans-top",
        "published": "2026-08-25T12:32:29.000Z"
      },
      {
        "outlet": "MyJoyOnline Ghana",
        "title": "China warns it will protect its interests after US widens sanctions against Iran",
        "url": "https://urgent.news/2026/08/25/china-warns-it-will-protect-its-interests-after-us-widens-sanctions",
        "published": "2026-08-25T12:48:32.000Z"
      },
      {
        "outlet": "The National Business",
        "title": "Oil slides over 3% to hit one-week low as US unveils tough sanctions on Iran",
        "url": "https://urgent.news/2026/08/25/oil-slides-over-3-to-hit-one-week-low-as-us-unveils-tough-sanctions",
        "published": "2026-08-25T13:19:14.000Z"
      },
      {
        "outlet": "CBS News",
        "title": "Trump administration warns nations to isolate Iran amid aggressive economic strategy",
        "url": "https://urgent.news/2026/08/25/trump-administration-warns-nations-to-isolate-iran-amid-aggressive",
        "published": "2026-08-25T13:46:12.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}