Oil prices have struck 2019 highs in the the wake of the U.S. move to impose sanctions on countries that buy Iranian oil, and analysts said Tuesday that oil could get still more expensive.
US West Texas Intermediate crude rose 72 cents to $ 66.27 per barrel while international Brent oil rose 35 cents to $ 74.39 per barrel.
The U.S. announced the sanctions in November but some countries got temporary waivers that allowed them to import Iranian oil. The U.S. now says those waivers expire May 2. Prices haven’t been this high since late October, before the waivers were announced.
