climbed to their highest since late 2014!U.S.  surge past $70, hits fresh high.The dollar to fresh highs Monday while climbed to their highest since late 2014, driven by declining Venezuelan crude production worries could re-impose sanctions Iran.

The crude surge lifted energy in Wall Street. European shares supported by strong . gains in Nestle after the Swiss company agreed to pay $7.15 billion to in a global coffee alliance.

The euro broke below $1.1 the time . On weaker-than-expected German industrial orders declining eurozone sentiment.

Investors increased bets that rising U.S. would continue to boost the . While traders unwound their bearish positions on the greenback.

An index that tracks the against a basket of leading currencies climbed to 2.74. It7;s highest since December. The index was last up 0.23 percent at 2.782.

“The general right now is that the dollar is going to continue to move a . Against the euro, in particular, maybe against the yen as ,” said Larry Hatheway, chief economist at GAM Investment .

The euro could slip to $1.1750 $1.15 as a support as the Federal Reserve tightens monetary policy. And the European economy trends weaker, he said.

’s a general appreciation the Fed is going to move at least twice again . And the consensus is shifting toward moves .”

The euro fell 0.3 percent to $1.1922, while the Japanese yen slipped 0.04 percent to 109.07 per dollar.

Venezuelan Oil prices exports came under threat after U.S. Oil prices ConocoPhillips moved to take assets of state-run PDVSA to enforce a $2 billion arbitration , sources told .

The move could further crimp PDVSA’s declining oil output and exports.

Widespread expectations that will withdraw from the Iranian nuclear pact also weighed on crude prices.

U.S. crude $1.01 to settle at $70.73 a barrel, breaking above the $70 mark the time since November 2014, while Brent gained $1.30 to settle at $76.17.

Nestle 1.6 percent after it gained the rights to around the outside of the U.S. company’s coffee shops.

Nestle was the biggest contributor to the 0.59 percent advance in the pan-European FTSEurofirst 300 index of leading regional shares. Oil giants Royal Shell and Total were the fourth- and seventh-biggest contributors, respectively.

On Wall Street, the S&P energy index was the biggest gainer among the 11 sectors during much of the session but faded by the close, ending up 0.18 percent.

Trump tweeted that on Tuesday he would announce his decision on to withdraw from the Iran nuclear deal.

“Oil has done in anticipation of the announcement from Trump. braced the worst,” said Keith Lerner, chief strategist at SunTrust Advisory in Atlanta.

The Dow Jones Industrial Average closed up 94.81 points, 0.39 percent, at 24,357.32. The S&P 500 gained 9. points, 0.35 percent, to 2,672.63 and the Nasdaq Composite added 55.60 points, 0.77 percent, to 7,265..

Eurozone government bond yields slid as the unexpected fall in German industrial output was seen as encouraging the European Central Bank to prolong an unwinding of stimulus.

The yield on the benchmark 10- German bund fell to 0.53 percent, while yields on U.S. benchmark 10- Treasury rose slightly to 2.9516 percent.

Gold slipped, snapping of gains, as the U.S. dollar index strengthened.

U.S. gold futures for June delivery settled down 60 cents at $1,314.10 an ounce.

Reporting by Herbert Lash in ; Editing by Dan Grebler, , and Susan Thomas / Publisher:The Thomson Reuters.