Brent Crude Settles at Highest Since July on Trump’s Iran Threat

Brent crude futures settled above $70 a barrel for the first time since July after US President Donald Trump warned Iran to make a nuclear deal or face military strikes.

The global oil benchmark rose 3.4% on Thursday, marking a third straight day of gains, while US counterpart West Texas Intermediate topped $65. Oil prices climbed amid the renewed risk of conflict that could disrupt crude exports out of Iran or ripple effects across global markets if a critical shipping route is blocked.