Oil futures prices jumped by 3% on Tuesday, following the looming threats of sanctions against Iran. United States President Donald Trump threatened Tehran with “maximum pressure” in order to slash Iranian oil exports to zero if the country rejects a peaceful and economic deal with the US. West Texas Intermediate (WTI) for deliveries in June jumped by 3% at 1:14 pm ET to sell for $63.81 per barrel. One minute later, Brent for settlements in July added 2.71% to go for $66.73 per barrel.