Oil prices on the New York commodity exchange are falling after China imposed tariffs on American goods, including oil and liquefied natural gas. In addition to concerns about a trade war, investors are also worried about U.

Oil on Tuesday traded in a wide range, with WTI falling at one point by 3%, its lowest since Dec. 31, after China announced tariffs on U.S. imports of oil, liquefied natural gas and coal in retaliation to U.S. levies on Chinese exports.

Oil prices on the New York commodity exchange are dropping after China imposed tariffs on American goods, including oil and liquefied natural gas. Brokers report that investors are also worried about US sanctions on Iran.

U.S. President Donald Trumpon Tuesday restored his "maximum pressure" campaign on Iran that includes efforts to drive its oil exports down to zero in order to stop Tehran from obtaining a nuclear weapon.

Trump signed a presidential memorandum reinstating the campaign but said he would reach out to Iran to negotiate a deal

U.S. concerns about Iran developing nuclear weapons are not a complicated issue and can be resolved given Tehran's opposition to weapons of mass destruction, Iran's Foreign Minister Abbas Araqchi said on Wednesday,

U.S. President Donald Trump said on Tuesday that he would love to make a deal with Iran to improve bilateral relations, but added that Tehran should not develop a nuclear weapon. "I say this to Iran,

President Donald Trump signed a memorandum reviving an aggressive approach to Iran as his new administration pressures the government in Tehran.