A U.S. official told Reuters on Tuesday, 16 Tir, that the U.S. government, in response to attacks by the Islamic Republic on commercial vessels in the Strait of Hormuz, will revoke the general license for the sale of Iran’s oil. The U.S. official described the Islamic Republic’s actions in the Strait of Hormuz as “completely unacceptable” and warned that these actions would not go without consequences. After the news was released, global oil prices rose by more than three percent.