You are here: Home » Reuters » News
Business Standard

Oil nears $80 after hitting highest since November 2014

Reuters  |  LONDON 

By Ron BoussoLONDON (Reuters) - Oil prices hit their highest level since November 2014 on Thursday, with Brent crude creeping closer to $80 per barrel as supplies tighten and tensions with Iran simmer. Brent crude futures rose 32 cents to $79.60 per barrel at 0846 GMT. U.S. West Texas Intermediate (WTI) crude futures were up 29 cents at $71.78 a barrel. That was not far off Tuesday's $71.92 a barrel - also a level not seen since November 2014.The prospects of a sharp drop in Iranian oil exports in the coming months due to renewed U.S. sanctions following President Donald Trump's decision to ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Thu, May 17 2018. 14:59 IST
RECOMMENDED FOR YOU