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Oil Jumps as Trump's Hawkish Appointment Trips `Bolton Premium'

  • Crude in New York posted biggest weekly gain since July
  • Trump appointed John Bolton as national security adviser
General Economic Imagery From North Dakota Ahead Of The Republican Caucus

Photographer: Daniel Acker/Bloomberg

Updated on

Crude posted its biggest weekly gain since July as the appointment of a hardliner for U.S. national security adviser fueled speculation sanctions on Iran will be re-imposed.

Futures in New York climbed 5.7 percent this week. President Donald Trump is taking a hawkish foreign-policy turn by picking John Bolton for the job, drawing the market’s attention to one of OPEC’s largest producers.