Oil Falls 2% to Near $92 After US Launches "Economic D-Day" on Iran Withheld Heaviest Sanctions

Oil prices fell roughly 2% to near $92 a barrel for Brent crude on August 25, 2026, after the US launched "Operation Economic Outcast" against Iran. Treasury Secretary Scott Bessent called it "the single greatest financial offensive ever marshalled against an adversary." Yet the US held off on its biggest penalties. Markets got escalation in rhetoric, phased delivery in execution.