Trump Considers Lifting Sanctions on Iranian Oil to Reduce Prices

US President Donald Trump is trying to reduce rising oil and gas prices. In an interview with Fox Business, US Treasury Secretary Scott Besant said on Thursday that Trump could lift sanctions on Iranian oil. He said that this would be like lifting sanctions on Russian oil. He added that in the coming days, we could lift sanctions on Iranian oil that is currently at sea. It's about 140 million barrels. It's going to be available for 10 days to 2 weeks. Attacks on these Iranian oil and gas sites and the closure of the Strait of Hormuz have left oil-producing countries desperate to reduce production. It raised oil prices by more than 50 percent. Oil prices and... Brent crude were $79 a barrel before the Iran war. They had reached a high of $119. It's been consistently above $100 a barrel on Thursday. $115 a barrel. It's going to be called "sanctions against Iran" or "sanctions, according to Iran's Master 14."