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Crude oil near three-year high amid tight supply, trading above $68

Brent crude, the international benchmark, was up 32 cents at $68.10 a barrel, US crude rose 37 cents to $62.10

Reuters  |  London 

Oil rose further above $68 a barrel on Tuesday, touching its highest since May 2015, supported by Opec-led production cuts and expectations US crude inventories fell for the eighth week. The Organization of the Petroleum Exporting Countries and allies including Russia are keeping supply limits in place in 2018, a second year of restraint, to reduce a price-denting glut of oil held in inventories. Brent crude, the international benchmark, was up 32 cents at $68.10 a barrel at 1311 GMT and earlier touched $68.29, its highest since May 2015. US crude rose 37 cents to $62.10 and also ...

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First Published: Tue, January 09 2018. 19:27 IST
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