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U.S. Oil Prices Hit 3-Month high amid OPEC-Led Output Cuts


Tuesday, 19 February 2019 08:13 WIB

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U.S. oil prices hit a three-month high on Tuesday, buoyed by production cuts led by the Organization of the Petroleum Exporting Countries.

U.S. West Texas Intermediate (WTI) crude futures were at $55.95 per barrel at 00:34 GMT, up 36 cents, or 0.7 percent, from their last settlement. Earlier in the session, they marked their strongest since Nov. 20 at $56.33 a barrel.

Prices had risen 2.2 percent on Friday, the last trading session due to a U.S. public holiday on Monday.

International Brent crude oil futures had yet to trade. They closed Monday up 0.4 percent, after touching their highest since Nov. 20 at $66.83 a barrel.

Source : Reuters


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