Oil hits highest price in three years - The National:
"Oil climbed to a three-year high above $79 a barrel in London on heightened political risks in parts of the Middle East following unrest in Gaza and the return of sanctions against Iran. Brent futures advanced 1.1 per cent. Dozens of Palestinians were killed in clashes with Israeli troops in Gaza after the US opened an embassy in Jerusalem. Foreign ministers from the UK, France and Germany will meet with their Iranian counterpart, Javad Zarif, to discuss salvaging an accord that allows Iranian oil exports, after the US withdrew last week. US President Donald Trump’s withdrawal from a 2015 nuclear accord with Iran has driven oil to the highest since November 2014. American measures could cut the Iran’s crude exports, and traders are watching whether Opec and its allies will end their agreement to curb supply and increase production instead to fill in the gap."
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