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