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Oil hovers near 2014 peak as geopolitics vye with U.S. supply

Reuters  |  LONDON 

By Amanda CooperLONDON (Reuters) - Oil held near its highest in nearly three years on Wednesday, supported by political tension in the Middle East, although evidence of rising U.S. crude supply acted as a counterbalance.Brent crude has gained 5.7 percent this week, rising to $71.34 a barrel on Tuesday, the highest since late 2014, although the price has since fallen back and was $70.98 a barrel by 0907 GMT, down 6 cents. U.S. crude futures were at $65.55 a barrel, up 4 cents on the day.The United States and its allies are considering air strikes against Syrian President Bashar al-Assad's ...

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First Published: Wed, April 11 2018. 16:42 IST
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