Oil Climbs After U.S. Revokes License for Iranian Crude as Vessel Attacks Raise Shipping Concerns
Oil futures jumped on Tuesday, with both Brent and U.S. West Texas Intermediate settling around 3% higher before extending gains in post-settlement trade. The moves followed a U.S. decision to revoke a general license permitting sales of Iranian crude and reports of attacks on vessels near the Strait of Hormuz. Market participants cited renewed geo…