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 Singapore’s central bank MAS boosts gold reserves to nearly 200 tonnes READ MORE Market Watches Fed and Inflation Cues as Gold Steadies at $2,300 READ MORE Understanding Recession Indicators: Is the US Economy at Risk? READ MORE U.S. Banks Face Dual Challenges: Weakening Loan Quality and Declining Interest Payments READ MORE The Uncertain Path of the Global Economy in 2024: What to Watch READ MORE Add a Comment Cancel replyYour email address will not be published.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