Oil prices at $ 80 for the first time since 2014

Media IN 17 \ 05 \ 2018

Oil prices jumped to $ 80 a barrel on Thursday for the first time since November 2014 on fears that Iranian exports would shrink as supplies in a market already narrowed.
At 9:55 GMT, Brent crude futures were up 57 cents at $ 79.85 a barrel, after $ 80.
US crude oil futures rose 64 cents to $ 72.13 a barrel, also the highest since November 2014.
Oil prices in recent weeks have been rising in tandem with the prospect of a sharp drop in Iran’s oil exports in the coming months due to renewed US sanctions following President Donald Trump’s decision to withdraw from the global nuclear deal with Tehran.
France’s Total warned on Wednesday it could abandon a multi-billion-dollar gas project in Iran if it failed to secure a US exemption from US sanctions, casting doubt on Europe-led efforts to salvage the nuclear deal.