Energy

Oil prices head for second weekly rise as U.S. vows to turn up economic pressure on Iran - CNBC

Source: CNBC

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DW NOTE

The US is threatening more economic pressure on a country whose oil can't leave port anyway. The Strait of Hormuz has been effectively closed since August 21 — one ship out versus the usual 73 per day — and global supply is already down 4.3 million barrels daily. Sanctioning an export that isn't happening is diplomatic theatre, not policy.

Read the full story at CNBC →

The United States has imposed sanctions on a Turkish investment bank and two subsidiaries, accusing them of helping Iran move oil revenue and providing access to the international financial system as Washington intensifies its campaign to squeeze Tehran. The US Treasury Department on September 4 des

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Oil prices head for second weekly rise as U.S. vows to turn up economic pressure on Iran - CNBC

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