The Commodities Feed: Oil shrugs off Bessent’s ‘D-day’ plan for Iran

Energy – EU gas prices continue to move higher Oil prices are steady this morning, holding onto yesterday’s losses after ICE Brent closed 2.35% lower. The market seems largely unfazed by Washington’s push for tighter economic pressure on Iran, with traders treating the US effort to nudge partners away from Iranian trade as marginal rather than market‑moving. The US announced more than 70 Iran-related sanctions and is threatening secondary sanctions on those that do not cut trading ties with Iran. However, China is the largest buyer of Iranian energy. It remains unclear whether the US would risk a fragile trade truce with Beijing over seconda…