The daily business briefing: August 7, 2018

Oil prices edge up after Trump reimposes Iran sanctions, Facebook joins tech companies banning Alex Jones and Infowars, and more 

1. Oil prices rise after Trump reimposes Iran sanctions

Oil prices edged higher early Tuesday after President Trump signed an executive order reimposing sanctions on Iran, which could tighten supply. Iran exported about three million barrels of oil per day in July. Trump said the sanctions would exert "maximum economic pressure" on Tehran three months after he pulled the U.S. out of the Iran nuclear deal. Trump said the 2015 agreement requiring Iran to curb its nuclear program in exchange for the lifting of sanctions was a "horrible, one-sided deal." He urged other nations to show Iran that it had to "change its threatening, destabilizing behavior and reintegrate with the global economy, or continue down a path of economic isolation." European foreign ministers said they "deeply regret" Trump's move, and vowed to try to salvage the deal.

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.