Oil prices rise as the U.S. cancels Iran’s license to sell oil
AI Summary
Oil prices increased following the U.S. Treasury Department's cancellation of a license that allowed the sale of Iranian oil. This regulatory change has influenced the futures market amid ongoing geopolitical tensions.
Oil futures climbed late Tuesday after the Treasury Department canceled a license granted on June 21 to allow for the sale of Iranian oil.
World Politics Markets Commodities Energy oil prices United States Iran Treasury Department license cancellation futures market geopolitics