Crude Retreats Below $83; U.S. Senate Targets Iranian Oil with New Sanctions U.S. crude oil prices dropped back below $83 per barrel, reversing gains from a previous 2% rally as the market anticipates upcoming U.S. petroleum inventory data. The focus in the oil market has shifted back to supply and demand fundamentals, as geopolitical tensions between Israel and Iran, which previously influenced the market, have eased. Additionally, the U.S. Senate has approved a foreign aid package that includes expanded sanctions against Iranian oil, targeting entities involved in its transportation and processing. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts The 21st Century Gold Rush: A Barometer of Global Unease READ MORE Fear Index' Doubles Amid Worldwide Stock Market Rout READ MORE Billionaire Investor Palihapitiya: Misleading GDP Components Mask Economic Downturn READ MORE $10 Million Gold Smuggling Scheme Unveiled by Hong Kong Customs READ MORE "Is It Too Late To Buy Gold & Silver? NO. YOU AIN'T SEEN NOTHIN' YET" – Mike Maloney READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment