Oil Prices Soar After Trump Threatens Sanctions On Iranian Crude Buyers: Is China On Top Of The List?

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Oil Prices Soar After Trump Threatens Sanctions On Iranian Crude Buyers: Is China On Top Of The List? - Benzinga

Quick Summary:

Oil prices jumped sharply Thursday after President Donald Trump took to Truth Social, telling all nations to cease purchases of Iranian oil and petrochemicals, or violators will face sweeping U.S.secondary sanctions.

While the declaration has yet to be backed by an official White House press release or executive order, energy markets wasted no time reacting.

"Any Country or person who buys ANY AMOUNT of OIL or PETROCHEMICALS from Iran will be subject to, immediately, Secondary Sanctions.