Politics
US Moves to Lift Iran Oil Sanctions as War Drives Prices to Three-Year High
The Trump administration is temporarily lifting sanctions on Iranian oil barrels at sea to ease a global supply crisis, as the US-Iran war pushes Brent crude to $112 a barrel and US gas prices near $4 per gallon. Officials acknowledge the move carries political risks but argue the additional supply is necessary given the near-closure of the Strait of Hormuz.
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