Oil price rose after U.S imposed sanctions on Iran

Market news

7 August 2018

Oil price rose after U.S imposed sanctions on Iran

Brent crude was up 1.25% to $74.67 a barrel on London's Intercontinental Exchange. On the New York Mercantile Exchange, West Texas Intermediate futures were trading up 0.91% at $69.64 a barrel, in the aftermath of the Trump administration's move to reimpose punishing economic sanctions on Iran, measures that are expected to ultimately paralyze the OPEC nation's crude exports.

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