AI Summary

The Treasury Department has extended its authorization for Iranian oil sales until August. This decision allows Iranian oil to continue being sold on the global market. The authorization is significant because it indicates a continued willingness by the US government to permit Iranian oil exports. The move suggests that the US is willing to maintain a level of engagement with Iran's oil industry despite ongoing tensions. Iranian oil tankers have begun departing the Persian Gulf, loaded with oil, and have switched on their transponders after previously going dark during the conflict.

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