Reported about 11 hours ago
Oil prices increased for a second consecutive day as the US imposed new sanctions on Iran, raising concerns about tightening supply. Brent crude futures rose to $75.16 a barrel, while West Texas Intermediate gained to $71.13 a barrel. The sanctions target over 30 entities involved in transporting Iranian oil, as President Trump aims to reduce Iran's crude exports significantly. However, uncertainties in global demand remain a factor, particularly with impending tariffs on Canadian and Mexican imports.
Source: YAHOO