Oil Prices Hit Record Then Recede As Investors Await Trump’s Decision – 7 May, 2018

Oil prices hit a three and a half year high on Monday before dipping slightly while investors await President Trump’s announcement on whether the U.S. will impose Sanctions on Iran. U.S. West Texas Intermediate hit a record $70 per barrel, the first time since November 2014, while Brent crude had reached &76,17 per barrel before falling 0.8 percent and 63 cents to $75.54. Trump’s announcement on whether to remain in the Iran nuclear deal will come on Tuesday, four days earlier than expected.