Oil Prices Hit High Mark After Trump Nixes Iran Deal

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  • 6 years ago

LONDON (Reuters) - Crude oil prices hit 3-1/2-year highs on Wednesday after President Donald Trump pulled the United States out of an international nuclear deal with Iran, while the dollar touched a new high for the year and world stocks held steady. Trump’s move sparked fears of increased tension in the Middle East and uncertainty over global oil supplies. [O/R] Demand for safe-haven assets remained muted as the immediate market impact was seen as specific to oil supply, but investors remained mindful of the knock-on effects on inflation.

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