Oil is closing in on $70 as the deadline for a possible US exit from the Iran nuclear deal approaches

AP Photo/Sebastian Scheiner

• Oil prices rose more than 2% to as high as $69.93 a barrel on Friday.
• West Texas Intermediate hasn't hit $70 per barrel since 2014.
• Follow oil prices in real time here.

Oil prices spiked Friday, approaching fresh highs amid worries the US will reimpose hefty sanctions on Iranian barrels. 

West Texas Intermediate was trading up 2.1% at $69.93 per barrel at 12:15 p.m. ET. Brent, the international benchmark, rose 1.59% to $74.85. WTI hasn't hit $70 since 2014. See the rest of the story at Business Insider

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