The U.S. has imposed new sanctions on Iran's oil industry, targeting a Chinese refiner for purchasing Iranian crude.

Oil prices settled more than 3% higher on Thursday, supported by hopes for a trade deal between the United States and the European Union and new U.S. sanctions to curb Iranian oil exports, which ...

The US has sanctioned Chinese refinery Shandong Shengxing and several global shipping firms for facilitating Iranian oil ...

“Any refinery, company, or broker that chooses to purchase Iranian oil or facilitate Iran’s oil trade places itself at serious risk,” said Treasury secretary Scott Bessent. “The United ...