Oil falls 1% ahead of US announcement to impose further sanctions on Iran
XLE•Oil slips ahead of expected U.S. sanctions announcement
SINGAPORE, Aug 24 (Reuters) - Oil prices slipped 1% on Monday as investors took profit ahead of an expected announcement from Washington to impose more sanctions on Iran.
Brent crude futures LCOc1 fell 94 cents, or 1%, to $93.45 by 2308 GMT, while U.S. West Texas Intermediate crude CLc1 was at $86.14 a barrel, down 92 cents, or 1.06%.
U.S. Treasury Secretary Scott Bessent, set to hold a press conference at 2 p.m. EDT (1800 GMT) on Monday, has threatened to impose "the toughest sanctions in history" on Iran.
