Oil settles near $85 after Bessent threatens sanctions on Iran business; Musk says SpaceX AI satellites to launch in Q4 next year

Oil settled near $85 after Treasury Secretary Bessent threatened economic sanctions on any country doing business with Iran, part of an 'economic D-Day' drive to isolate the country and end the war. Separately, Elon Musk said SpaceX's first AI satellites, powered by Nvidia's technology, will launch in Q4 next year and reach significant scale by 2028.