Oil rises

Singapore : Brent crude oil rose for sixth day on Tuesday, passing $75 a barrel, on expectations that supplies will tighten because fuel is rising at the same time the United States may impose sanctions against Iran and OPEC-led output cuts remain in place.Brent crude oil futures climbed to as high as $75.20 a barrel in early trading on Tuesday, the highest since Nov. 27, 2014. Brent was still at $75 a barrel at 0311 GMT up 29 cents, or 0.4 percent, from its last close.Brent´s six-day rising streak is the most since a similar string of gains in December and it is up by more than 20 percent from its 2018 low in February.U.S. WTI crude futures were at $68.98 a barrel, up 34 cents, or 0.5 percent from their last settlement.On Thursday, WTI rose to as high as $69.56, the most since Nov. 28, 2014.Markets have been lifted by supply cuts led by the OPEC which were introduced in 2017 with the aim of propping up the market.

from The News International - Business

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