Oil prices steady as investors weigh impact of expanded US sanctions against Iran

On Tuesday, oil prices found stability following a notable decline on Monday. Investors are currently evaluating newly imposed U.S. sanctions that aim to target Iran’s economy without resorting to military force. An incident involving an oil tanker near Oman has raised concerns about shipping safety. Additionally, the U.S. has reported a significant decrease in its strategic oil reserves, marking a historical low.

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