Oil prices fall for second day as US shifts from Iran strikes to sanctions
- Oil prices fell for a second day on Tuesday as tradersjudged the risk of renewed military strikes on Iran to have receded, after the United States instead threatened broader economic sanctions.
- Although Treasury Secretary Scott Bessent said the White House was declaring an "economic D-Day" against Iran and its trade partners, the US gave no timeline for its new sanctions and did not name any other countries it would punish.
- The measures were softer than analysts had expected and were accompanied by renewed shuttle diplomacy, with key Pakistani mediators reporting positive talks with Iran's pre
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- Oil prices fell for a second day on Tuesday as tradersjudged the risk of renewed military strikes on Iran to have receded, after the United States instead threatened broader economic sanctions.
- Although Treasury Secretary Scott Bessent said the White House was declaring an "economic D-Day" against Iran and its trade partners, the US gave no timeline for its new sanctions and did not name any other countries it would punish.
- The measures were softer than analysts had expected and were accompanied by renewed shuttle diplomacy, with key Pakistani mediators reporting positive talks with Iran's pre
Sources: France 24