Oil prices climbed to 3 1/2 year highs Wednesday after President Donald Trumppulled the U.S. out of the Iran nuclear pact, triggering renewed economic sanctions that could reduce the oil supply of an already increasingly tight market. Brent crude, the global benchmark, was up 2.85% at $76.98 a barrel on London’s Intercontinental Exchange. On the New York Mercantile Exchange, West Texas Intermediate futures were trading up 2.78% at around $70.98 a barrel.

Source: Wall Street Journal May 09, 2018 02:52 UTC