Oil Prices Rise as Markets Weigh New US-Iran Sanctions

it.investing.com (Italian)

Oil prices rose slightly on Tuesday as markets weighed new US sanctions against Iran, with Tehran promising retaliation. Brent futures gained 0.15% to $92.31 a barrel, while West Texas Intermediate rose 0.3% to $85.28. The US announced sanctions on 60 Iran-linked entities on Monday, but stopped short of targeting specific countries or Chinese banks, a major buyer of Iranian oil. Iran signaled readiness to retaliate by intensifying disruptions to Middle East oil flows. Shipping traffic through the Strait of Hormuz, which supplied about 20% of global oil before the conflict, remains far below pre-war levels, supporting crude prices despite recent profit-taking.


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Oil Prices Rise as Markets Weigh New US-Iran Sanctions | News Minimalist