US Sanctions Send Oil Prices Tumbling Amid Iran Uncertainty

Oil prices edged higher on Tuesday after falling more than 2% in the previous session, as investors assessed the impact of tougher US sanctions on Iran and weighed the risk of further disruption to crude supplies from the Middle East.

Brent crude futures rose 0.3% to $92.4 a barrel, while US West Texas Intermediate crude gained 0.4% to $85.4 a barrel.

The modest recovery came as traders weighed the potential impact of the latest US measures against Iran against signs that the sanctions may not immediately disrupt physical oil supplies.