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Iran warns of military ship ban in Hormuz under potential deal with Oman, and other Middle East news AP NewsIran warns of military ship ban in Strait of Hormuz under potential deal with Oman Spectrum NewsNavigation, jurisdiction, costs: Iran, Oman attempt to hammer out Hormuz deal France 24Strait of Hormuz deal inches closer as oil prices dip; US commits to Tehran sanctions Fox News
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The cost of the fuel, used in farm machinery, trucks and other heavy equipment, has surged because of the war in Iran and Ukrainian attacks on Russian refineries.
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Operation Economic Outcast aims to isolate Tehran from the U.S. dollar without pushing oil prices higher.
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The United States threatened sanctions for any country or entity that engages with Iran's gold, digital assets, aviation, shipping and tech industries. Here's why that matters.
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What matters more for oil prices is how hard U.S. sanctions hit China, Iran's biggest oil buyer, and whether Beijing pushes back.
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