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Oil Prices Fall as U.S. Prepares New Sanctions Against Iran

Oil prices dropped Monday as Treasury Secretary Scott Bessent prepared to announce an escalation of sanctions against Iran, including secondary penalties on countries that continue trade with Tehran. Iran's rial hit a record low amid the economic pressure.

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Oil prices dropped Monday as Treasury Secretary Scott Bessent prepared to announce an escalation of sanctions against Iran, including secondary penalties on countries that continue trade with Tehran. Iran's rial hit a record low amid the economic pressure.

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