NewzThe price of West Texas Intermediate (WTI) crude oil rose by 2.33% on Thursday, reaching $87.83 per barrel. This market movement follows a statement from U.S. Treasury Secretary Scott Bessent regarding potential geopolitical actions involving Iran.
Secretary Bessent indicated that the United States is prepared to impose what he described as the harshest sanctions in history against Iran. The market response reflects investor sensitivity to these proposed measures and their potential impact on global oil supply chains.
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