U.S. revokes license for Iranian oil sales

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The United States revoked a general license that had authorized sales of Iranian oil, citing Iran's actions in the Strait of Hormuz as "wholly unacceptable" after attacks on tankers in the strategic waterway. The announcement pushed oil prices up more than 3% as markets reacted to heightened regional risk. A U.S. official warned consequences would follow, while negotiators said they continued to work in good faith toward a final agreement with Iran despite the escalation. Immediate effects include market volatility and increased diplomatic tension, with further outcomes depending on future attacks and negotiation progress.

U.S. revoked general license for Iranian oil sales