Reported 1 day ago
Oil prices advanced following the US government's intensified sanctions against Iranian crude exports, aiming to increase pressure on Iran amidst negotiations for a new nuclear agreement. West Texas Intermediate rose to over $68 per barrel, while Brent reached $72, as the US Treasury sanctioned a Chinese refinery related to Iranian oil purchases. Experts believe this could significantly reduce Iranian exports by 1.5 million barrels daily if negotiations falter, despite ongoing pressures from trade tensions and increased production by OPEC.
Source: YAHOO