Oil prices were mixed on Tuesday after the U.S. Department of Energy said it would offer 11 million barrels of crude for sale from the nation's Strategic Petroleum Reserve ahead of financial sanctions against Iran, beginning in November.
The delivery period for the proposed sale of sour crudes will be from Oct. 1 through Nov. 30 as renewed U.S. sanctions against Iran take full effect in early November.
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Market Analysis
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.