Oil rises as Trump threatens sanctions on Iran partners

Published Aug 22, 12:44 AM UTC

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International and US crude oil futures rose on Friday, August 21, 2026, after US President Donald Trump threatened to impose economic sanctions on Iran's trading partners. The threat raised expectations of tighter global oil supply, pushing prices higher. Brent crude futures settled at US$94.39 per barrel, up US$0.61 or 0.7%. The move marks an escalation in US pressure on Iran and its economic allies, with potential implications for global energy markets and geopolitical tensions in the Middle East.

Source

The Business TimesWestern

Original language: EN-US

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