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US oil prices hit highest since 2015

by January 10, 2018 General

SINGAPORE – US 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.

US West Texas Intermediate (WTI) crude futures were at US$62,24 a barrel at 0252 GMT – 51 cents, or 0,8%, above their last settlement. They earlier marked a May 2015 high of US$62,56 a barrel.

– Nampa-Reuters