💨 Abstract

Oil prices rose on Thursday due to new U.S. Iran-related sanctions and renewed tensions in the Middle East. The U.S. issued sanctions targeting Chinese refineries and vessels that supply crude oil to them. China is the largest importer of Iranian oil. OPEC+ also announced further oil output cuts to compensate for over-production. However, the dollar's strength and U.S. tariff concerns limited the price increase.

Courtesy: theprint.in

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