# USRevokesIranOilWaiver

The U.S. Treasury revoked the general license allowing Iranian oil sales on July 7, with a wind-down period only through July 17. WTI and Brent crude both jumped over 5% intraday. The move follows U.S. accusations that Iran attacked three commercial vessels in the Strait of Hormuz, with CENTCOM announcing fresh strikes on Iran the same day. Iran's Foreign Ministry condemned the revocation as a violation of the June 18 memorandum, vowing to take all necessary measures to protect national interests. With only 10 days left on the waiver window, oil prices will remain volatile depending on whether Washington and Tehran can salvage the deal.