US revokes Iran oil sale license in a threat to fragile truce after ships attacked

Source Summary

July 7 (Reuters) - The United States is revoking a general license authorizing the sale of Iranian oil, according to a U.S. official, who also warned of consequences over Iran's actions in the Strait of Hormuz after three tankers were hit on Tuesday in the strategic waterway.After a day in which huge crowds mourned Iran's slain Supreme Leader Ayatollah Ali Khamenei in the holy city of Qom, oil prices rose more than 3% on news of the U.S. announcement and maritime security sources told Reuters that one of the ships attacked, an LNG carrier, could be at risk of explosion.