Oil prices rally amid Iran concerns
Xinhua,May 02, 2018 Adjust font size:
NEW YORK, April 30 (Xinhua) -- Oil prices rose on Monday as traders eyed the developments surrounding the nuclear agreement with Iran.
Israel's Prime Minister Benjamin Netanyahu on Monday revealed files he claims show Iran ran a secret program to produce nuclear weapons, according to CNBC.
His address followed his meeting over the weekend with U.S. Secretary of State Mike Pompeo regarding Iran's nuclear deal.
The Trump administration has said it will withdraw the United States from the nuclear deal next month if it cannot reach an agreement with European partners to toughen the terms of the accord.
Analysts said if sanctions are reinstated, that could contribute to tighter global oil inventories.
The West Texas Intermediate for June delivery rose 0.47 U.S. dollar to settle at 68.57 dollars a barrel on the New York Mercantile Exchange, while Brent crude for June delivery added 0.53 dollar to close at 75.17 dollars a barrel on the London ICE Futures Exchange. Enditem