Oil prices hit three-and-a-half-year high after US exits from Iran deal

Rise came after treasury secretary said he did not anticipate major hikes because other countries would increase output to offset losses

• Oil hits $77 but Iranian rial tumbles after Trump quits nuclear deal

Crude oil prices rose to three-and-a-half-year highs following the news that the Trump administration revoked the nuclear deal with Iran.

Brent crude oil prices, the global benchmark, and US West Texas Intermediate rallied above $77 and $71 per barrel, respectively, in the aftermath of the announcement.

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from US news | The Guardian https://ift.tt/2jI7OXk
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