1st Time since 2014!17 May 2018 13:23
(Bloomberg) -- Oil rose to $80 a barrel in London for the first time since 2014 as U.S. crude inventories fell and traders braced for the impact of renewed sanctions on OPEC member Iran.
Brent futures added as much as 1.1 percent to $80.18 on Thursday. U.S. crude stockpiles slipped for a second week as the summer driving season approaches, government data showed on Wednesday. Goldman Sachs Group Inc (NYSE:GS). said America�s surging shale output won�t be able to replace the potential drop in Iranian oil shipments after the U.S. reimposed sanctions on OPEC�s third-largest producer.