Oil Prices Under Pressure Despite Fresh Sanctions on Iran

Oil prices were under pressure early on Tuesday morning despite the Trump administration announcing fresh sanctions on Iran's oil industry on Monday.- President Trump’s recent push for a deal between Russia and Ukraine, his foot-dragging over Canadian and Mexican tariffs, and expectations of OPEC+ supply increases from April onwards have seen interest in crude oil futures plunge to multi-month lows.- Open interest in WTI futures is now the lowest in nine months, falling to 2.12 million lots in the week ending February 18 according to CFTC…