Oil Soars Again After Trump threatens Iraq sanctions (Market Trading)


Oil prices rose in Monday morning after US President Donald Trump issued a threat to impose sanctions on Iraq amid escalating tensions with Iran in the Middle East. Brent crude oil jumped over 6 percent to $70.30 a barrel. Also, US West Texas Intermediate (WTI) crude futures increased by 5.3 percent to $64.39 a barrel. The gains extended Friday's more-than-3 percent surge after a US air strike in Iraq killed top Iranian commander Qassem Soleimani. 

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