US warns any country not complying that ‘the risks will not be worth the benefits’Oil prices surged to their highest level in six months on global commodity markets after the US said it would recall a harder line against countries that breach its oil embargo on Iran.
Brent crude,which provides the benchmark for global oil prices, hit $74.70 a barrel on Tuesday morning while the lighter grade US West Texas intermediate rose to $66.31. The price of both slipped slightly later in the day.
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Source: theguardian.com