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Oil surges on threat to Venezuela’s PDVSA, Iran worries

Oil prices rose to their highest levels since late 2014 on Monday, boosted by the latest troubles for Venezuelan oil company PDVSA and a looming decision on whether the United States will re-impose sanctions on Iran. Brent crude oil futures were at $75.81 a barrel at 10:20 a.m. EDT (1420 GMT), up 94 cents. U.S. West Texas Intermediate (WTI) crude futures rose 69 cents to $70.40, the first time since November 2014 that WTI had climbed above $70. …read more […]