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Oil hits highest since Nov 2014 as Brent edges closer to $80

Reuters  |  SINGAPORE 

By Henning GloysteinSINGAPORE (Reuters) - Oil prices hit their highest level since November 2014 on Thursday, with Brent crude creeping ever closer to $80 per barrel as supplies tighten and demand remains strong. Brent crude futures were at $79.40 per barrel at 0655 GMT, up 0.12 percent from their last close. They earlier touched their highest in more than 3-1/2 years at $79.49 a barrel.U.S. West Texas Intermediate (WTI) crude futures were at $71.67 a barrel, up 18 cents, or 0.3 percent, from their last settlement. That was not far off Tuesday's $71.92 a barrel - also a level not seen since ...

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First Published: Thu, May 17 2018. 12:47 IST