Business & Markets
Oil prices fall, Brent below $90 on Iran sanctions
Oil prices fell for a second day on Tuesday, with Brent crude below $90 a barrel, as traders judged the risk of renewed military strikes on Iran to have receded after Washington threatened broader economic sanctions instead.
At around 2020 GMT, Brent North Sea crude was down 3.9% at $88.58 a barrel. West Texas Intermediate was down 3.1% at $82.36 a barrel.
US Treasury Secretary Scott Bessent said the White House was declaring an “economic D-Day” against Iran and its trade partners. The United States gave no timeline for new sanctions and did not name other countries it would punish.
Pakistani mediators reported positive talks with Iran's president on Monday. Pakistan Interior Minister Mohsin Naqvi said on X that he had held “a very positive and productive meeting” and believed the momentum could help further progress and peace in the region.
Oil prices had risen for weeks during deadlock in talks to reopen the Strait of Hormuz.
Wall Street stocks closed higher, with the S&P 500 up 0.3% and the Nasdaq up 0.7%. Most major European markets also closed higher, while Paris slipped 0.2%.
Chris Low of FHN Financial warned that markets appeared to be underestimating the effect of Canada's counter-tariffs on US goods, which range from 15% to 50%.
Investors were also looking ahead to Nvidia's earnings on Wednesday as a test of the artificial intelligence boom, and to the annual Jackson Hole gathering of central bankers, economists and finance chiefs beginning Thursday, where Federal Reserve chief Kevin Warsh is due to speak.
Update
At around 2020 GMT, Brent North Sea crude was down 3.9% at $88.58 a barrel, while West Texas Intermediate was down 3.1% at $82.36.
Wall Street closed higher, with the S&P 500 up 0.3% and the Nasdaq up 0.7%.
FHN Financial's Chris Low warned that markets may be underestimating the effect of broader Canadian counter-tariffs on US goods.
Source note: AFP news report published on 25 August 2026 at 20:35:38 UTC.
Update
Brent was down 3.1% at $87.77 a barrel and WTI was down 3.1% at $82.36 around 1535 GMT.
All major European markets closed higher except Paris, which ended down 0.2%.
Canada announced counter-tariffs on US goods ranging from 15% to 50%.
The Canadian dollar edged lower after Donald Trump vowed to double tariffs on Canadian vehicles.
Source note: AFP news report published on 25 August 2026 at 15:55:12 UTC.
Update
At around 1335 GMT, Brent crude was down 2.8% at $88.00 a barrel and West Texas Intermediate was down 3.0% at $82.45.
Brent crude was back below $90 a barrel.
US exchanges rose in early trading while London slipped into negative territory in the afternoon.
German data showed second-quarter growth was stronger than previously estimated.
Source note: AFP news report published on 25 August 2026 at 13:53:11 UTC.
Update
West Texas Intermediate was down 3.0% at $82.49 and Brent was down 2.8% at $89.59 at around 1100 GMT.
London, Paris and Frankfurt were all higher at around 1100 GMT.
The source item says the Treasury would buy back more of its own bonds after the 30-year yield hit a 19-year high.
Bitcoin rose above $80,000 for the first time since May, according to the source item.
Canada was expected to announce its response to new US levies on Tuesday.
Source note: AFP news report published on 25 August 2026 at 11:40:48 UTC.
Update
At around 0810 GMT, West Texas Intermediate was down 0.7% at $84.46 a barrel and Brent North Sea crude was down 0.5% at $91.68.
Tokyo closed up 0.5% at 65,856.43, Hong Kong closed flat at 25,511.10 and Shanghai closed up 0.2% at 3,889.44.
London's FTSE 100 was up 0.2% at 10,877.41 around 0810 GMT.
The update says Hong Kong was flat, rather than among markets that gained.
Source note: AFP news report published on 25 August 2026 at 08:22:54 UTC.
Update
Stocks mostly rose, including gains in Tokyo, Hong Kong, Shanghai, Taipei, Singapore, Sydney and Wellington, while Manila, Mumbai and Bangkok fell.
West Texas Intermediate was down 0.7% at $84.39 a barrel and Brent was down 0.8% at $91.47 at around 0715 GMT.
London and Paris edged up at the open, while Frankfurt also rose after data showed German growth was revised higher for the second quarter.
Seoul reversed early losses to close higher.
Updated currency and index figures were provided at around 0715 GMT.
Source note: AFP news report published on 25 August 2026 at 07:52:49 UTC.
Update
Asian stocks fluctuated Tuesday while oil edged higher in early Asian trade.
West Texas Intermediate was up 0.7% at $85.57 and Brent was up 0.5% at $92.59 at around 0230 GMT.
Seoul's tech-heavy market fell more than 2% at one point as SK hynix and Samsung retreated.
Treasury Secretary Scott Bessent said President Donald Trump was calling world leaders to ask them to stop interactions with Tehran.
Investors were awaiting Nvidia earnings and the Jackson Hole gathering for clues on technology demand and US monetary policy.
Source note: AFP news report published on 25 August 2026 at 02:46:03 UTC.
Update
Oil prices ended down more than 2% after Scott Bessent outlined plans for economic pressure on Iran.
The Dow closed up 0.3%, while the S&P 500 fell 0.3% and the Nasdaq fell 0.8%.
Bessent's announcement named no specific countries beyond Iran and gave no timelines.
The Canadian dollar fell 0.7% against the US dollar after US-Canada trade talks broke down.
Source note: AFP news report published on 24 August 2026 at 20:32:23 UTC.
Update
Brent and WTI were around 2% lower at about 1535 GMT, with Brent at $90.88 a barrel and WTI at $85.04.
London closed higher, while Paris and Frankfurt closed lower.
In late-morning New York trading, the Dow was up 0.2%, the S&P 500 was down 0.3% and the Nasdaq was down 0.6%.
Nvidia shares were down more than 2% ahead of Wednesday's earnings report.
South Korea's Kospi fell more than 3%, weighed by Samsung Electronics shares, while Tokyo, Hong Kong and Shanghai also closed lower.
The Canadian dollar fell 0.5% against the US dollar after Canada vowed retaliation over new US tariffs.
This week's Jackson Hole gathering and US Treasury bond buyback plans were cited as additional factors for investors.
Source note: AFP news report published on 24 August 2026 at 15:43:53 UTC.
Update
About 10 minutes into trading, the Dow Jones Industrial Average was up 0.2% at 53,357.60.
The S&P 500 was down 0.3% at 7,652.12 and the Nasdaq Composite was down 0.7% at 26,009.88.
Briefing.com analyst Patrick O'Hare said the week was setting up to be busy.
Investors were also watching US inflation data, Nvidia earnings and a speech by Federal Reserve Chair Kevin Warsh at Jackson Hole.
Source note: AFP news report published on 24 August 2026 at 13:51:57 UTC.
Update
At around 1335 GMT, Brent was down 1.2% at $91.59 a barrel and West Texas Intermediate was down 1.7% at $85.60.
The Dow was up 0.1% in early New York trading, while the S&P 500 was down 0.3% and the Nasdaq was down 0.6%.
London, Paris and Frankfurt were all lower in mid-afternoon European trading.
Nvidia shares were down almost 1% ahead of its earnings report.
Source note: AFP news report published on 24 August 2026 at 13:46:52 UTC.
Update
At around 1015 GMT, Brent crude was down 1.7 percent at $92.77 a barrel and West Texas Intermediate was down 2.4 percent at $85.01.
London edged 0.2 percent higher, while Paris and Frankfurt were flat.
The Canadian dollar fell 0.5 percent against the US dollar after Ottawa vowed to retaliate against new US tariffs.
Bessent wrote in The Financial Times that Washington was launching the “single greatest financial offensive marshalled against an adversary”.
Source note: AFP news report published on 24 August 2026 at 10:48:11 UTC.
Update
At around 0815 GMT, West Texas Intermediate was down 2.2 percent at $85.11 a barrel and Brent North Sea crude was down 1.8 percent at $92.69 a barrel.
Hong Kong closed down 1.9 percent at 25,517.33.
Tokyo closed down 0.7 percent at 65,528.09 and Shanghai closed down 0.6 percent at 3,882.01.
London was flat, while Paris and Frankfurt were down.
Source note: AFP news report published on 24 August 2026 at 08:49:13 UTC.
Update
West Texas Intermediate was down 2.3 percent at $85.06 a barrel around 0700 GMT.
Brent North Sea crude was down 1.8 percent at $92.65 a barrel around 0700 GMT.
South Korea's Kospi fell more than three percent after Samsung Electronics said it spent $80 billion buying back its own shares.
Hong Kong was down 1.7 percent despite Shein announcing a September 1 market debut in Hong Kong that would value the company at close to $27 billion.
London opened flat, while Paris and Frankfurt were down 0.2 percent.
Source note: AFP news report published on 24 August 2026 at 07:54:06 UTC.
Uncertainty notes
The timing and targets of any new US sanctions were not specified.
A specific Dow Jones closing level is unclear because two different closing figures were provided.
Source
AFP news report published on .