Oil rises to 2014 highs on Iran Sanctions, NAFTA deal | Reuters:
Oil futures jumped on Monday, reaching the highest levels since November 2014, as U.S. sanctions on Iran come into force and a North American trade deal fosters growth.
The United States and Canada forged a deal on Sunday to salvage the North American Free Trade Agreement (NAFTA), a trilateral pact with Mexico.
Phil Flynn, an analyst at Price Futures Group in Chicago, said the NAFTA deal would boost oil prices because it “increases the growth prospects not only for Canada and the U.S., but for North America as a whole.”
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