The oil market is facing a new round of US sanctions against Iran

The oil market is preparing for new United States sanctions against Iran, shipping activities in the Strait of Hormuz have stalled and Brent's crude oil prices are close to $95. The United States is committed to imposing the most severe sanctions on Iran and the countries with which it continues to deal, with Brent receiving $94.39 per barrel on Friday, rising six days in a row. Shipping traffic in the Strait of Hormuz has almost stalled and new sanctions are expected to be announced on Monday. The United States Treasury Secretary, Scott Becent, is about to announce a new sanctions programme on Monday, and Trump warns of economic consequences for countries that support Iran. Iranian officials had rejected the restrictions in those plans and warned that they would respond to additional pressure from the United States. Despite the suspension of the direct conflict, Iran still has the capacity to disrupt commercial shipping and energy infrastructure in the region. The scope of the sanctions will determine whether Washington imposes secondary sanctions only on Iranian entities, or on companies, banks and Governments that continue to trade in Tehran。