Oil prices were steady on Tuesday, after a bump the previous day when fresh U.S. sanctions imposed on Iran increased concerns that supply might tighten, as global refining margins remained strong. Brent crude futures were down 5 cents to $74.

The Trump administration imposed a new round of sanctions on oil brokers, ships and people it said were linked to illicit shipments of Iranian crude, framing the move as a return to a “maximum pressure” strategy to squeeze the country’s economy.