WTI crude oil prices fell below the $85 per barrel mark during Asian trading hours on Monday, reaching around $84.80 per barrel as traders moved to secure profits. This decline comes amid growing expectations of new US sanctions targeting Iran.
According to FX Street, the profit-taking activity ahead of these sanctions weighed on oil prices, reflecting market caution over potential supply disruptions and geopolitical tensions. The move highlights traders' attempts to manage risk before the sanctions take effect.
For Japanese investors, who are sensitive to energy price fluctuations due to the country's reliance on oil imports, such price movements are closely monitored as they can influence inflation and the broader equity market.