Why are oil prices rising? US-Iran tensions threaten Middle East oil supply
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August 21, 2026
Oil prices slipped slightly on Friday but remained on track for a second straight weekly gain. The drop came as tensions between the United States and Iran increased, raising fears that oil supplies from the Middle East could face more disruptions. Oil…
US threatens ‘toughest sanctions in history’ on Iran; oil prices surge as Trump warns of ‘economic warfare’
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August 21, 2026
WASHINGTON/DUBAI, Aug 20 (Reuters) – The U.S. will impose “the toughest sanctions in history” on Iran, Treasury Secretary Scott Bessent said on Thursday, a focus on economic measures he suggested would lessen the need for new major…