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U.S. oil prices hit highest since 2015, but doubts loom over rally

Reuters  |  SINGAPORE 

By Henning GloysteinSINGAPORE (Reuters) - U.S. oil prices hit their highest since 2015 again on Tuesday as speculators bet on further price rises amid OPEC-led production cuts and a dip in American drilling activity, though some warned the rally could run out of steam.U.S. West Texas Intermediate (WTI) crude futures were at $62.24 a barrel at 0252 GMT - 51 cents, or 0.8 percent, above their last settlement. They earlier marked a May-2015 high of $62.56 a barrel.Beyond that 2015-high, which was a short intra-day spike, Tuesday's peak was the strongest level for WTI since December, 2014, at the ...

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First Published: Tue, January 09 2018. 13:32 IST