Bent oil price hits 77$

Bent oil price hits 77$

Brent crude oil touched its highest since November 2014 at $77.20 a barrel. The benchmark contract was up $2.15 a barrel, or more than 2.8%, at $77.00 by 0730 GMT.

US light crude was up $1.90 a barrel, or almost 2.8%, at $70.96, near highs also last seen in late 2014, Reuters reported.

Oil prices rose more than 3% today, hitting 3-1/2-year highs, after US President Trump abandoned a nuclear deal with Iran and announced the “highest level” of sanctions against the OPEC member.

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