Oil rises as Bessent says Iranian airlines face shutdown from Wednesday

Oil prices rose Tuesday as Brent crude gained 1.2% to $101.54 a barrel and U.S. WTI climbed 0.77% to $96.55, amid growing Iran-U.S. tensions after Treasury Secretary Scott Bessent told CNBC all Iranian airlines will be shut down from Wednesday by denying fuel, landing services and ticket sales or facing exclusion from the dollar system. Iranian President Masoud Pezeshkian is set to fly to the UN in New York, with talks scheduled Sept. 22–26 and 28.