Oil prices spike, but remain lower than last week

Oil prices have surged ahead again on Thursday, after falling earlier this week following Trump’s announcement that negotiations with Iran were resuming on Tuesday. 

“Rising oil prices have crimped some of the optimism seen earlier in the week – but the price is still much lower than a week ago, providing a positive tailwind as we move into the second week of August,” Chris Beauchamp, a chief market analyst, told AFP.