US Treasury Secretary Scott Bessent, who is scheduled to hold a press conference at 2 p.m. EDT (1800 GMT) on Monday, has threatened to impose "the toughest sanctions in history" on Iran. US President Donald Trump has also threatened sanctions against countries trading with Iran.

An earlier peace deal between the sides expired this week, with neither side making efforts to resume talks. U.S. President Donald Trump also threatened economic retaliation…

Crude oil futures decline as the US threatens tough sanctions on Iran, impacting market prices amid rising tensions.