**US Treasury actions on Iranian oil sanctions have centered on a temporary general license authorizing production, delivery, and sale of crude, petroleum products, and petrochemicals, including dollar-denominated payments and ancillary services like shipping and insurance.** This follows a June 2026 MOU and recent October 2026 talks in Switzerland, where Iran committed to Strait of Hormuz transit and IAEA access in exchange for the 60-day relief window. The move adds supply that can ease pressure on Brent and WTI benchmarks while boosting tanker activity and Iranian export revenue. Trader sentiment reflects the interim nature of the waiver, ongoing final-deal negotiations, and risks of revocation if commitments falter, with markets pricing probabilities around potential extensions or broader relief tied to nuclear and regional issues. Key upcoming catalysts include further working-group talks and any OFAC updates.