• Oil rallies as Iran sanctions kick in

    8 days ago - By Business Insider

    Oil prices rose more than 1% on Tuesday.
    US economic sanctions against Iran took effect this week.
    Other sanctions, including those targeting Iranian crude, will resume in November.
    Watch oil trade in real time here.
    Crude oil prices extended gains Tuesday as the Trump administration's sanctions against Tehran kicked in, setting the stage for a drop-off in production from the world's fifth-largest producer.
    West Texas Intermediate crude jumped 0.9% to $69.50 per barrel at 10:30 a.m. ET. Brent , the international benchmark, rose 1.3% $74.65 a barrel.
    "Many investors were watching oil prices...
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