LONDON—Crude oil prices continued to slide Monday with the Brent global benchmark and its U.S. counterpart West Texas Intermediate firmly entrenched under $30 a barrel.

Brent fell 1.28% to $28.54 a barrel on London’s ICE Futures exchange for March loadings as the raising of Iranian oil sanctions weighing heavily on sentiment.

WTI is still trading on its February contract and is less affected by the return of Iranian crude oil. However, it was still down 1.5% to $28.99 a barrel on the New York Mercantile Exchange.

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