London (CNN Business) 1. Oil and sanctions: Crude oil futures rallied again on Tuesday after the White House pledged to deepen its crackdown on exports from Iran.

The Trump administration vowed to bring Iran's oil exports to "zero" by removing the waivers that had allowed some countries to continue buying crude from the OPEC nation despite the reintroduction of US sanctions last fall.

President Donald Trump promised in a tweet that "Saudi Arabia and others in OPEC will more than make up" the reduction in supply.

But the oil market suggest traders are skeptical.

US oil prices climbed another 0.7% on Tuesday to $65.55 a barrel. That represents a spike of 54% since Christmas Eve. Brent crude, the global benchmark, increased 0.6% to above $74.