NEW YORK: Oil prices closed at three and a half-year peaks Monday ahead of a US announcement on Iran policy as global equity markets pushed higher. Speculation that US President Donald Trump would exit the Iran nuclear deal pushed US oil prices to their first close above $70 a barrel since November 2014. Oil prices in Europe also ended at a three-and-a-half year peak. US President Donald Trump tweeted that he would announce his decision on Tuesday, before US markets close. Europe’s biggest stock market, London, was shut for a bank holiday Monday, sapping volumes elsewhere on the continent.

Source: Manila Times May 07, 2018 23:37 UTC