Falling oil prices put Iran over U.S. sanctions barrel

WASHINGTON: For most of this year, the threat of tough U.S. sanctions on Iran, the world's third-largest oil exporter, helped push crude oil prices higher and higher, adding a menacing headwind for struggling global economies.

But in the past few weeks, a combination of higher output from Iran's rival Saudi Arabia and economic troubles in China and Europe have pushed oil prices down 25 percent, putting the threat of sanctions back squarely on Iran.