It’s costing more to fill up your gas tank these days and there’s a reason why.
Rising oil prices jumped above $70 per barrel in Monday morning trade in Asia, the first time the US crude benchmark has been above $70 since November 2014.
“The focus of oil markets is currently on the US president’s pending decision on the fate of the Iran nuclear deal,” Victor Shum, an oil industry analyst at research firm IHS Markit told CNN Money.
Trump has to decide by May 12 if he will bring back sanctions against the country.