Crude oil prices climbed on Tuesday following the US decision to revoke a waiver that had permitted the sale of Iranian oil.
The policy reversal removes a key channel for Iranian exports, immediately tightening global supply expectations and reinforcing geopolitical risk premiums in energy markets.
The move signals a hardening stance on Iran-related trade, with traders quickly repricing the potential for further supply disruptions.
In equities, Wall Street closed lower, marking another day of weakness for major indices.
The decline follows a session on Wednesday where markets paused their recent rally, and a mixed close on Thursday driven by cautious reactions to fresh labor market data.
The continued downward pressure suggests that investor sentiment remains fragile, with macroeconomic uncertainty and geopolitical developments weighing on risk appetite.