Oil up 2% as Trump threatens new sanctions on Iran

Brent crude futures settled at US$62.13 a barrel, up US$1.07, or 1.8%, while US West Texas Intermediate crude futures closed US$1.03, or 1.8%, higher at US$59.24 a barrel.

HOUSTON: Oil prices settled nearly 2% higher on Thursday after US President Donald Trump threatened secondary sanctions on Iran after a fourth round of US-Iran talks was postponed.

Brent crude futures settled at US$62.13 a barrel, up US$1.07, or 1.8%, while US West Texas Intermediate crude futures closed US$1.03, or 1.8%, higher at US$59.24 a barrel.