Oil prices will be closely monitored as the United States imposed oil and financial sanctions on Iran on Monday, increasing pressure on Tehran to reduce nuclear, rocket and regional activities.
According to reports last week, the administration of President Donald Trump will approve eight jurisdictions with special exemptions to continue importing oil from Tehran, with the idea that over time they will gradually reduce their purchases. Oil prices fell last Friday on the return of the news, as investors remained worried about the excessive supply in the market.
Oil on Monday fell 0.71 percent to 62.69 dollars a barrel on Monday afternoon, while the global benchmark Brent dropped 0.58 percent to $ 72.41.
Central banks in the United States, Australia and New Zealand are scheduled this week.
"There are no changes in the policy of any central bank, but we continue to expect the Fed to raise interest rates on 25 blocks to 2.50 per cent in December," said Richard Grace, the chief currency strategist and head of the international economy at the Bank of Commons , she wrote in the morning notes.
Slowing global growth remains worrying for investors – last month, the International Monetary Fund cut the global growth forecast, citing tensions in trade between the United States and its trading partners.
There are other indications of a slowdown in growth dynamics, including a decline in the indicators of purchasing managers, indicators of economic health in the manufacturing and service sectors across Asia, says Felicity Emmett of ANZ Research.
"In an environment of growth in cooling and falling liquidity, it seems unlikely that market instability will soon fall for the old days," Emmet said in a morning note.