Oil prices make new highs after US quits from Iran nuclear deal

Brent prices have hit new highs: it was sold at $77.7 per barrel,

The hike in oil price occurred after the USA quit from the nuclear deal with Iran: investors are afraid that there will be shortages in oil supply from the third leading oil producer in the OPEC.

The rise in oil prices in recent month is mainly caused by an unstable political situation in the Middle East, including the Syrian conflict, and sanctions against Russia.

As EADaily reported earlier, Russia’s revenues from oil products exports in January-March 2018 grew by 21.4% comparing to the same period last year, up to $19.2 bn.