NEW YORK: Oil prices settled more than 3% higher on Thursday, supported by hopes for a trade deal between the United States and the European Union and new US sanctions to curb Iranian oil exports, which continued to elevate supply concerns.
Brent crude futures settled US$2.11, or 3.2%, higher to US$67.96 a barrel, and US West Texas Intermediate crude gained US$2.21, or 3.54%, at US$64.68 a barrel.
