Per breaking BBG: "US official says negotiators continue to work in good faith towards a final and Iran's actions in the Strait were wholly unacceptable to the US and will be met with consequences." An initial salvo perhaps, preparing for more direct action to come... US Treasuries extended losses as oil prices climbed to session highs after the Treasury Department revoked the June 21 waiver related to Iranian oil. However, while rescinding the exemption, Treasury said it will allow certain Iranian oil-related transactions during a limited wind-down period to facilitate an orderly transition. But ... (full story)