Oil hits 2019 highs amid OPEC-led supply cuts, US sanctions on Iran and Venezuela

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Reuters
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ID: 
1553138226429750100
Thu, 2019-03-21 01:16

SINGAPORE: Oil prices reached their highest so far for 2019 on Thursday as global markets tightened amid supply cuts led by producer club OPEC and US government sanctions against Iran and Venezuela.

International Brent crude oil futures hit a November 2018 high of $68.64 per barrel around at 0453 GMT on Thursday, up 14 cents, or 0.2 percent from their last close.

US West Texas Intermediate (WTI) crude futures also equaled a November 2018 high of $60.27 per barrel on Thursday.

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