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Oil markets firm as Brent edges ever closer to $80 per barrel on tight market

Reuters  |  SINGAPORE 

By Henning GloysteinSINGAPORE (Reuters) - Oil prices firmed on Thursday, with Brent crude creeping ever closer to $80 per barrel, a level it has not seen since November 2014, as supplies tighten while demand remains strong.Brent crude futures were at $79.36 per barrel at 0451 GMT, up 8 cents from their last close.U.S. West Texas Intermediate (WTI) crude futures were at $71.71 a barrel, up 22 cents, or 0.3 percent, from their last settlement.ANZ bank said on Thursday that Brent was "now threatening to break through $80 per barrel ... (as) geopolitical risks continue to support prices, (and) an ...

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First Published: Thu, May 17 2018. 10:36 IST
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