Crude tops $70 for first time since 2014
Seeking Alpha
Published May 07, 2018 02:58AM ET
Crude tops $70 for first time since 2014
- Crude prices rose above $70 a barrel overnight for the first time since November 2014 on growing concerns over the collapse of Venezuela's oil industry and possible new sanctions against Iran.
- President Trump this week will decide whether to pull out of the 2015 nuclear agreement, while ConocoPhillips (NYSE:COP) has moved to take key Caribbean assets of Venezuela's state-run PDVSA to enforce a $2B arbitration award.
- Crude futures +1.1% to $70.49/bbl.
- ETFs: USO, OIL, UWT, UCO, DWT, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM, WTIU, OILK, OILX, WTID, USOI, USOU, USOD, UBRT, DBRT, OILD, OILU, USAI
- Now read: Energy Recap: Latest RECAI Report Ranks U.S. The Second Most Attractive Nation For Renewables
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