Oil prices climb 2% as Iran, Trump trade threats
Oil prices rose a further 2 per centon Monday, pushing Brent above $70 a barrel, as rhetoric from the United States, Iran and Iraq fanned tensions in the Middle East after the killing of a top Iranian general.
Brent crude futures soared to a high of $70.74 a barrel and was at $70.03 at 0747 GMT, up $1.43, or 2.1 per cent, from Friday’s settlement.
US West Texas Intermediate crude was at $64.15 a barrel, up $1.10, or 1.7 per cent, after touching $64.72 earlier, the highest since April.
