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US oil jumps over $70 on Iran fears

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The U.S. crude benchmark jumped over $70 per barrel for the first time since November 2014.

"The focus of oil markets is currently on the U.S. president's pending decision on the fate of the Iran nuclear deal," said Victor Shum, an oil industry analyst at research firm IHS Markit.

If President Donald Trump abandons the 2014 Iran nuclear deal, the country will be able to export more crude.

Read more from CNNMoney.

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