Oil prices slip over rising US-Iran tensions

Oil prices dipped slightly after gaining during afternoon trade as protests in Iran and the US seizure of Venezuela’s oil supplies continue to stoke geopolitical risk.

The US president has warned Tehran of repercussions if demonstrators were harmed while Iran cautioned against foreign intervention. Trump said he’s considering potential military action against Iran following reports of a violent crackdown.

“We’re looking at it very seriously,” Trump told reporters on Air Force One. “The military is looking at it and we’re looking at some very strong options. We’ll make a determination.”