Thursday, 18 October 2018
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Oil hits four-year high as OPEC, Russia resist output rise to offset U.S. sanctions against Iran
Tuesday, 25 September 2018 13:35 WIB | ENERGY |MinyakWTIBrentOil,

Oil prices hit their highest since November 2014 on Tuesday, topping four-year highs from the previous day, as looming U.S. sanctions against Iran and reluctance by the Organization of the Petroleum Exporting Countries to raise output supported markets.

Brent crude futures rose to $81.62 a barrel around 06:00 GMT, levels not seen since November 2014. They were still at $81.61 at 0610 GMT, up 41 cents, or 0.5 percent from their last close.

U.S. West Texas Intermediate (WTI) crude futures were at $72.37 a barrel, up 29 cents, or 0.4 percent from their last settlement.

The United States from Nov. 4 will target Iran™s oil exports with sanctions, and Washington is putting pressure on governments and companies around the world to fall in line and cut purchases from Tehran.

Source: Reuters

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