Commodities
Asia Markets Rise Amid US Pressure on Iran and Trade Tensions with Canada
Asian markets generally rose on Tuesday as investors reacted to the US's new pressure on Iran. The US Treasury Secretary announced fresh sanctions against the country, warning that those who continue to do business with Iran would face retaliation.
Oil prices dropped nearly 3% following the announcement, with Brent crude falling to $88.19 per barrel and US benchmark crude oil shedding about 3% to $82.36 per barrel.
The US's new tariffs on Canada also weighed on markets, with Prime Minister Mark Carney accusing Washington of trying to subordinate its northern neighbor.