The regime has managed to sell billions of dollars in crude to China using a clandestine network of aging tankers.

Oil prices fell on Tuesday as traders eyed signs of progress in the latest round of talks between the U.S. and Iran.

Oil prices fell by more than 3% on Wednesday as traders weighed up progress in U.S.-Iran peace talks and renewed hostilities.

July WTI crude oil (CLN26) today is down -3.17 (-3.38%), and July RBOB gasoline (RBN26) is down -0.0498 (-1.58%). Crude oil and gasoline prices today extended Tuesday's sharp losses, with crude falling to a 5-week low and gasoline falling to a 6-week low.

Oil prices moved lower on Wednesday, giving back part of the sharp gains recorded in the previous session as investors monitored developments in negotiations between the United States and Iran following renewed military tensions that complicated efforts to reopen the Strait of Hormuz.

Oil prices pulled back from recent highs on Wednesday, erasing some of the previous day's 4% gain as traders sought clarity on complex negotiations between

Asian stocks plummet and oil prices react sharply as fresh US strikes on Iran raise doubts about a potential peace deal in the Middle East.

The S&P 500 and the Nasdaq ​advanced on Tuesday, parting ways with their European counterparts, and falling West Texas Intermediate crude prices diverged from spiking Brent oil prices ‌as investors weighed optimism over an imminent U.