Oil prices rise as Trump administration warns of sanctions for countries that buy Iran's crude

Crude oil prices are rising after a State Department official told reporters Tuesday that the U.S. has no plans to issue waivers on sanctions to Iran’s oil customers and expects countries to stop imports by Nov. 4.

The U.S. expects all countries to cut oil imports from Iran to “zero” by November or risk sanctions cutting their access to U.S. markets and financial institutions, said a senior State Department official, who briefed reporters on the condition of anonymity.