Reuters | Oil prices hit highest in years as markets adjust to looming sanctions on Iran Reuters The United States plans to impose new sanctions against Iran, which produces around 4 percent of global oil supplies, after abandoning an agreement reached in late 2015 which limited Tehran's nuclear ambitions in exchange for removing U.S.-Europe ... Prices could double: Trump's oil gamble comes at just the wrong time Oil market awaits global reaction to Trump's Iran move Oil Jumps as Supplies Shrink, Trump Seeks Curbs on Iranian Crude |