Treasury revokes exemption for Iranian oil sales
(Majid Saeedi/Getty Images) July 7, 2026 4:00 pm, EDT key takeaways: The Treasury Department revoked Iranian oil sales waivers effective July 7 following the tanker attacks in the Strait of Hormuz. Oil prices rose as the move threatened a 60-day peace accord, stoking supply fears and stoking market volatility. Negotiators are working toward a final