Trump raises penalties that allow China to buy Iranian oil in Iran among market shifts

president Donald Trump China was cleaned to buy Iranian oil on Tuesday, which has eliminated long-term penalties that limit trade relationship.

Trump announced the step of a social media post while Europe’s Europe to Air Force One, which increased he would buy “many” or oil from the US

“Can in china Now keep buying oil from Iran. May, they can buy many from the US, too. I am honor to make it! “Trump wrote.

The oil prices continue to drop and markets have grown on Tuesday while Trump contains Iran and Israel to accept a regular discretion. The agreement has concerns to close Iran to the tight hormuz, a major trading route for shipping oil all over the world.

ExxonMobil CEO deals with oil supply between Iran-Israel’s conflict

Crude hit $ 65 per gun with extended trade after West Texas among futures falls more than 8% to $ 67 per Japanese gun. Brent Crude, the international benchmark, falls to $ 70 a gun.

Washington changed Tehran sentences in 2018, and Trump’s administration implements many new rounds of Iranian leadership since the office of January.

Trump’s sanctions include penalties in three Chinese air import companies, which leads to shopping control.

The US Donald Trump president stopped and talked to the media before he boarded the sea in the southern bullet in the White House on June 15, 2025, in Washington, DC. (Tasos Katopodis / Getty Images / Getty Images)

Last week, the industry experts warned that Iran closing tight hormuz can cause prices to grow $ 120 a gun.

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Almost 20% of the world’s oil supply traveled tightly, even if it shutdown is harmful to Iran’s own income. Energy Secretary Chris Wright assumes concerns about Tuesday’s end, saying Fox News that the step is harmful to Iran more than others.

“The United States is now a net oil exporter. We don’t count any meaningful way to go to oil to get anyone harming others.

Reuters contributed to this report.