Oil prices fell by more than one dollar on Monday as investors took profits and awaited expected new U.S. sanctions on Iran. Brent crude futures fell $1.16, or 1.23%, to $93.23 a barrel, while U.S. West Texas Intermediate crude declined $1.55, or 1.78%, to $85.51. Both contracts had recorded a second consecutive weekly gain last week, rising more than five percent. The gains followed stalled U.S.-Iran peace negotiations, which have constrained oil shipments through the Strait of Hormuz.
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