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

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

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

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

An index that tracks the dollar 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 probably going to continue to move a higher. Against the euro, in particular, maybe against the yen as ,” said Larry Hatheway, chief economist at GAM Investment .

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

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

The euro fell 0.3 percent to $1.122, while the Japanese yen slipped 0.04 percent to 10.07 per dollar.

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

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

Widespread expectations that 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 for the since November 2014, while Brent gained $1.30 to settle at $76.17.

Nestle 1.6 percent after it gained the rights to Starbucks products around the world outside of the U.S. company’s 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 major sectors during of the session but faded by the close, ending up 0.18 percent.

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

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

The Dow Jones Industrial Average closed up 94.81 , 0.39 percent, at 24,357.32. The S&P 500 gained 9. , 0.35 percent, to 2,672.63 and the Nasdaq Composite added 55.60 , or 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-year German bund fell to 0.53 percent, while yields on U.S. benchmark 10-year Treasury rose slightly to 2.9516 percent.

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

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

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