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Oil prices hit highest since 2014, but analysts warn of overheated mkt

Reuters  |  SINGAPORE 

By Henning GloysteinSINGAPORE (Reuters) - Oil prices hit their highest levels since 2014 on Wednesday due to ongoing production cuts led by OPEC as well as healthy demand, although analysts cautioned that markets may be overheating. A broad global market rally, including stocks, has also been fuelling investment into crude oil futures. Brent crude futures were at $69.15 a barrel at 0648 GMT, 33 cents, or 0.5 percent, above their last close. Brent touched $69.29 in late Tuesday trading, its strongest since an intra-day spike in May 2015 and, before that, December 2014.U.S. West Texas ...

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First Published: Wed, January 10 2018. 12:30 IST
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