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Oil rises on stronger demand, supply restrictions

Reuters  |  LONDON 

By Christopher JohnsonLONDON (Reuters) - Oil prices rose on Thursday, taking U.S. crude above $50 a barrel for the first time in a month after the International Energy Agency (IEA) forecast the market would continue to tighten as fuel demand increased.Brent was up 45 cents at $55.61 a barrel by 1345 GMT. U.S. light crude rose 77 cents to a high of $50.07 before easing to trade around $49.95, up 65 cents. The U.S. benchmark last traded above $50 on Aug. 10.Brent has now climbed more than $10 a barrel over the past three months and is close to where it was at the beginning of the year, trading ...

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First Published: Thu, September 14 2017. 19:50 IST