Crude oil prices jumped by more than 4% on Tuesday after the United States Department of the Treasury revoked a temporary waiver that authorized the sale of Iranian oil. The move comes after Iran supposedly struck three oil tankers over the past day in the Strait of Hormuz. "Iran's actions in the Strait were wholly unacceptable to the United States and will be met with consequences," a US official told CNBC.
In addition, Qatar summoned the Iranian deputy ambassador earlier today after a Qatari oil tanker, Al Rakayat, was hit.
West Texas Intermediate (WTI) for August deliveries increased by 4.35%, going for $71.53 per barrel at 3:02 pm ET. A minute later, Brent for September's settlements advanced 4.49%, selling at $75.22 a barrel.
https://breakingthenews.net/Article/Oil-jumps-4-after-US-revokes-Iran-oil-license/66649766
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