Oil Prices Drop Over $1 Ahead of Toughest-Ever US Sanctions on Iran
Oil prices declined by more than a dollar as investors locked in recent profits ahead of anticipated US sanctions on Iran. Washington is set to announce its most stringent measures against Tehran on Monday. Iran has openly rejected the sanctions and threatened to restrict oil exports from the Gulf region. This standoff has introduced fresh uncertainty into global energy markets, with industry stakeholders closely watching developments.
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