Oil steadies amid Iran sanctions review

A report from Reuters states that oil prices have stabilized as markets evaluate the impact of the new US sanctions on Iran. Brent crude futures rose to $92.44 per barrel, while West Texas Intermediate crude increased to $85.38, after declining yesterday due to profit-taking. The United States announced an expansion of sanctions aimed at cutting Iran's economic lifeline in an effort to pressure Tehran to end its war with Washington. No specific date for the implementation or the targeted countries has been announced. Meanwhile, preparations continue to apply economic pressure rather than military action, with threats to disrupt maritime shipping, especially in the Strait of Hormuz.

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