Trump Escalates Economic Pressure on Iran, Oil Prices Rise

Oil prices have risen for four consecutive days due to an escalating US campaign to target Iran economically, with Brent crude trading below $92 a barrel.

The rally follows US President Donald Trump's announcement of new measures aimed at crippling Iran's economy, which he described as 'Economic Warfare and Isolation on an unprecedented scale'.

Trump warned that any country assisting Iran would face severe economic repercussions, including restrictions on its banks, companies, airports, and state bodies.

The US has shifted its strategy from military action to economic pressure, with Treasury Secretary Scott Bessent previewing the move last week.