NEW YORK—The dollar rose to fresh 2018 highs on May 7 while oil prices surged to their highest since late 2014, driven by declining Venezuelan crude production and worries the United States could re-impose sanctions on Iran.
The crude surge lifted energy stocks in Europe and on Wall Street, with European shares supported by strong results and gains in Nestle after the Swiss company agreed to pay $7.15 billion to Starbucks in a global coffee alliance.
