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Market Chatter: Sanctions Fears Keep Buyers Away From Iranian Oil, Bessent Says

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Concerns that the US could reinstate sanctions continue to keep most buyers away from Iranian crude, leaving China as the country's primary customer, US Treasury Secretary Scott Bessent said in an interview with Fox News on Tuesday.

Bessent said the reluctance of other buyers to return to the Iranian market gives Tehran added incentive to negotiate with Washington. He also said the administration will monitor gasoline retailers to ensure lower oil prices reach consumers.

The US Department of the Treasury did not immediately reply to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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