Oil prices surged to 41-month highs after United States President Donald Trump tore up the July 2015 nuclear agreement with Iran on Tuesday.
North Sea Brent crude oil futures traded as high as $77.20 per barrel on Wednesday, while the corresponding US benchmark West Texas Intermediate reached $71.17/bbl after Trump announced he would withdraw the US from the Joint Comprehensive Plan of Action (JCPOA) drawn up by the five permanent members of the UN Security Council and Germany. The move was widely expected, as Trump had...
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