Oil price jumps to 2014 highs as Trump abandons Iran nuclear deal

Up 2.8% to $77 a barrel

Tom Eckett
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US President Donald Trump. Photos: iStockphoto/Gage Skidmore/Flickr/Creative Commons CC BY-SA 2.0
Image:

US President Donald Trump. Photos: iStockphoto/Gage Skidmore/Flickr/Creative Commons CC BY-SA 2.0

Oil prices climbed to their highest point in three and a half years last night as US President Donald Trump withdrew from the Iranian nuclear deal and reimposed the "highest level" of economic sanctions on the country.

The price of Brent Crude rose 2.8% to $77 a barrel, reaching its highest level since November 2014, while West Texas Intermediate was up 2.8% to $71 a barrel. Prices rose on concerns about futur...

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