Oil Prices Fall Despite New U.S. Sanctions on Iran

Oil prices fell 2.35% on August 23, 2026 — Brent to $92.17, WTI to $85.01 — ending five straight days of gains. This came despite new U.S. sanctions on Iran, targeting over 100 oil-carrying ships since July 29. Each round of sanctions has pushed prices up less, suggesting buyers have already factored in the risk of supply disruptions.