Oil Prices Steady as U.S. Expands Sanctions on Iran

Oil prices remained steady on Tuesday after falling over 2% in the previous session, as investors evaluated the impact of expanded U.S. secondary sanctions against Iran. Brent crude futures were down slightly at $92.16 by 01:04 GMT, while U.S. West Texas Intermediate crude saw a marginal increase. The U.S. Treasury Secretary announced an expansion of sanctions to cut off Iran's economic lifelines, warning countries to sever business ties or risk being excluded from the dollar-based financial system.