Mar 25, 2026
US Pauses Sanctions on Iranian Oil Already at Sea to Ease Supply Crisis
Treasury Secretary Scott Bessent announced the US will temporarily allow the sale of Iranian oil shipments already in transit, estimated to add 140 million barrels to the market. The move comes as oil prices hit their highest settlement since July 2022 amid Iran's closure of the Strait of Hormuz during the ongoing US-Israeli conflict with Iran.
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