Oil hits 2019 high on U.S. plan to tighten squeeze on Iran - Reuters

Oil hits 2019 high on U.S. plan to tighten squeeze on Iran - Reuters:

Oil topped $74 a barrel on Monday, the highest since November, with the United States set to announce a further clampdown on Iranian oil exports, tightening global supplies. 



The United States is expected to say later on Monday that buyers of Iranian oil need to end imports soon or face sanctions, a source familiar with the situation said, confirming an earlier Washington Post report.

“This does bring a lot more uncertainty in terms of global supplies,” said Olivier Jakob, analyst at Petromatrix. “It is a bullish surprise for the market.”