Oil Prices Jump After US Walks Away From Iran Nuclear Deal

Oil prices rose more than 2 percent to a three-and-a-half year high on Wednesday after U.S. President Donald Trump abandoned an international nuclear deal with Iran, likely curbing the OPEC-member’s crude exports in an already tight market. Trump on Tuesday pulled the United States out of an international nuclear deal with Iran that was agreed in late 2015, raising the risk of conflict in the Middle East and casting uncertainty over global oil supplies.

Brent crude oil futures rose to a session high of $76.75 per barrel, their highest level since November 2014. They were at $76.66 per barrel at 0137 GMT, up $1.81, or 2.4 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were up $1.55 per barrel, or 2.2 percent, at $70.61 a barrel, close to highs last seen in late 2014. For More Information Please Visit : www.paceresearchindia.com and Call : 8817774774