The U.S. on Monday imposed sanctions on dozens of people and oil tankers across China, the United Arab Emirates, India and other jurisdictions for allegedly helping to finance Iran and its support for militant groups that launch attacks against the U.

The new sanctions target oil brokers in the UAE and Hong Kong, and tanker operators in India and China. Read more at straitstimes.com.

Oil futures finished higher on Monday, with prices finding support after a nearly 3% decline Friday, as the U.S. imposed fresh sanctions on Iran, impacting its crude sector.

Oil prices edged higher on Monday as fresh U.S. sanctions on Iran and a commitment to compensate for overproduction by Iraq added to concerns of near-term supply tightness, helping the market recover some of Friday's steep losses.

The Treasury Department and State Department on Monday announced sanctions on more than 30 individuals and vessels connected with the sale and transportation of Iranian oil and its products from that