Oil prices rose to five-month highs on Monday, driven up by OPEC's ongoing ...
SINGAPORE - Oil prices rose to five-month highs on Monday, driven up by OPEC’s ongoing supply cuts, U.S. sanctions against Iran and Venezuela and healthy U.S. jobs data.
International benchmark Brent futures were at $70.69 per barrel at 0047 GMT on Monday, up 35 cents, or 0.5 percent from their last close.Brent and WTI both hit their highest levels since November last year at $70.76 and $63.48 per barrel, respectively, early on Monday. Russian oil output reached a record high of 556 million tonnes, or 11.16 million barrels per day , last year.U.S. crude exports have also risen, breaking through 3 million bpd for the first time earlier this year.
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