Oil prices at 4-year high as Iran sanctions stoke concern among investors

Crude has rallied about 16 percent since mid-August as supply losses from Iran to Venezuela continue to rattle global markets

Oil traded near the highest level in almost four years as investors grapple with doubts over Opec’s ability to replace falling exports from Iran.

Futures rose 0.2 percent in New York after closing Monday at the highest since November 2014. Iranian crude and condensate exports declined to their lowest in 2 1/2 years before the impending return of US sanctions. Meanwhile, the new US-Mexico-Canada Agreement, which superseded the 24-year-old North American Free Trade Agreement, eased some concerns about global commerce.

“The market’s very keen to figure out the size of impact from the Iranian supply disruptions and whether Saudi Arabia