Oil prices remained near three and a half year highs on May 11 as the United States plans to reintroduce sanctions against Iran after the Administration of US President Donald J. Trump abandoned a landmark deal that sought to curb Iran's nuclear program.

Iran pumps about 4% of the world’s oil. However, there is no shortage of oil, as the market remains balanced with Saudi Arabia and Russia having led efforts to curb oil supply to prop up prices. “I think you’re going to see some quite signifi...

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