US Revokes Iran Oil Sales Waiver, Crude Spikes

Hyperdash News07/07/2026 19:26 UTCCommodities

The United States has revoked the waiver that permitted Iran to sell its oil. This action is a direct response to recent attacks and is anticipated to decrease the global oil supply. Following the announcement, Brent crude oil surged 6% to trade above $75 per barrel.

This policy shift tightens the oil market by removing Iranian supply. The immediate price reaction reflects concerns over reduced availability. Traders on Hyperdash have taken

WTI Crude +0.73% higher and

Brent Crude +0.89% higher since the news.

Sources

ZeroHedge

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