Oil prices fell today as investors awaited details of a new US campaign to isolate Iran's economy, while Asian stocks largely declined amid renewed pressure on technology shares.

Brent crude fell 1.8 per cent to $92.68 a barrel, while US West Texas Intermediate dropped 1.9 per cent to $85.39. Both benchmarks had been under pressure as traders assessed the potential impact of tougher US sanctions on Iran and the possibility of disruption to global energy supplies.

Asian equities were broadly lower. South Korea's Kospi fell 1.4 per cent, while Hong Kong's Hang Seng Index declined 2.1 per cent. Japan's Nikkei 225 slipped 0.3 per cent and Shanghai's Composite Index lost 0.5 per cent.

Investors are now turning their attention to Nvidia's upcoming earnings report for clues about whether the AI investment boom can maintain its rapid pace, while markets remain focused on the potential economic consequences of Washington's Iran strategy, weighing the effects of sanctions on oil supplies, inflation, global trade and financial markets.

— CHANNELS