Oil prices rose for a second day on Tuesday as fresh U.S. sanctions imposed on Middle Eastern producer Iran increased concerns supply might tighten and as global refining margins remained strong. Brent crude futures rose 15 cents,

The U.S. on Monday imposed sanctions on dozens of people and oil tankers across China, the United Arab Emirates, India and other jurisdictions for allegedly helping to finance Iran and its support for militant groups that launch attacks against the U.

The Trump administration on Monday announced sanctions on more than 30 individuals and vessels connected with the sale and transportation of Iranian oil and its products.

Oil prices rose for a second day on Tuesday as fresh U.S. sanctions imposed on Middle Eastern producer Iran increased concerns supply might tighten and as global refining margins remained strong. Brent crude futures rose 38 cents,

The Trump administration imposed a new round of sanctions on oil brokers, ships and people it said were linked to illicit shipments of Iranian crude, framing the move as a return to a “maximum pressure” strategy to squeeze the country’s economy.

The Trump administration’s math on Middle Eastern energy supplies just doesn’t add up. The law of supply and demand is the most basic insight in economics. When there's more of a good available for sale than people who want to buy it,

Oil prices rose for a second day on Tuesday as the U.S. imposed fresh sanctions on Middle Eastern producer Iran that increased concerns supply might tighten.

Oil futures finished higher on Monday, with prices finding support after a nearly 3% decline Friday, as the U.S. imposed fresh sanctions on Iran, impacting its crude sector.

Treasury Secretary Scott Bessent stated, “Iran continues to rely on a shadowy network of vessels, shippers, and brokers to facilitate its oil sales and fund its destabilizing activities.” He warned that anyone involved in Iranian oil would face significant sanctions risk as the United States uses all available tools to disrupt Iran’s oil supply chain.

Oil prices climbed in Asian trading Tuesday after the U.S. imposed fresh sanctions targeting Irans oil sector, raising concerns over potential supply disruptions. Brent crude futures rose 0.6% to $75.