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U.S. oil prices hit highest since 2014, but analysts warn of overheated mkt

Reuters  |  SINGAPORE 

By Henning Gloystein and Roslan KhasawnehSINGAPORE (Reuters) - U.S. oil prices hit their highest 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. U.S. West Texas Intermediate (WTI) crude futures were at $63.44 a barrel, 48 cents, or 0.8 percent, above their last settlement at 0752 GMT. Earlier prices rose to as much as $63.53, the highest since Dec. 9, 2014.Brent crude futures were at ...

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First Published: Wed, January 10 2018. 13:46 IST