Oil hits $80, highest since Nov 2014, on Iran concerns

Oil prices hit $80 a barrel onThursday for the first time since November 2014 on concerns thatIranian exports could fall due to renewed U.S. sanctions andreduce supply in an already tightening market.

Brent crude futures LCOc1 reached an intraday high of$80.18. They were up 58 cents at $79.86 as of 1110 GMT.

U.S. West Texas Intermediate (WTI) crude futures were up 57cents at $72.06 a barrel, also their highest since November2014…

 

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