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Iran warns of military ship ban in Hormuz under potential deal with Oman, and other Middle East news AP NewsIran warns of military ship ban in Strait of Hormuz under potential deal with Oman Spectrum NewsNavigation, jurisdiction, costs: Iran, Oman attempt to hammer out Hormuz deal France 24Strait of Hormuz deal inches closer as oil prices dip; US commits to Tehran sanctions Fox News
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Operation Economic Outcast aims to isolate Tehran from the U.S. dollar without pushing oil prices higher.
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Oil prices declined on Tuesday as traders shrugged off U.S. threats of an "economic D-Day" against Iran, while a flurry of headlines helped to renew hopes that the conflict could soon come to an end.
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What matters more for oil prices is how hard U.S. sanctions hit China, Iran's biggest oil buyer, and whether Beijing pushes back.
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