US Treasury Secretary Bessent says the US Treasury has targeted Iran's financial infrastructure, disrupting tens of billions of dollars in Iranian revenue; Kharg Island is approaching maximum storage capacity, forcing Iran to reduce oil production

The announcement regarding the targeting of Iran's financial infrastructure is significant as it signals escalating tensions that could impact global oil supply, particularly with Kharg Island nearing maximum storage capacity. This situation may lead to reduced oil production from Iran, which is likely to provide upward pressure on crude prices, especially WTI, as the market struggles with supply concerns amidst geopolitical volatility.