Oil prices dropped more than 3% Tuesday after a report that the United States plans to return diplomats evacuated from the Middle East, signaling reduced expectations of an immediate return to full-scale conflict.
According to CNBC, Brent crude fell about 3.4% to $89.05 per barrel, while West Texas Intermediate declined 3.6% to roughly $81.99. The losses followed a 3% Brent decline on Monday.
The market reaction came as Washington intensified economic pressure on Iran through its new “economic D-Day” sanctions campaign.
Iranian Economy Minister Ali Madanizadeh said Tehran is prepared to withstand further sanctions.
China also pushed back against Washington’s approach. Its Foreign Ministry said Beijing would protect its interests and criticized unilateral sanctions. Analysts said China remains the key test because it buys most of Iran’s exported oil.
Related Tweet:
Oil drops 3% to 12-day low as Iran claims two-year plan to cope with Washington’s ‘economic D-Day’ https://t.co/G35R8CXjxg
— CNBC (@CNBC) August 25, 2026
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