Oil prices rose early on Monday, with Brent hitting its highest level since Nove...
FILE PHOTO: An oil pump jack pumps oil in a field near Calgary, Alberta, Canada, July 21, 2014. REUTERS/Todd Korol/File Photo
Brent crude futures were at a November 2018 high of $72.58 per barrel at 0028 GMT, up 0.8 percent from their last close. “The path of least resistance remains higher ,” said Stephen Innes, head of trading at SPI Asset Management, pointing to Saudi supply cuts, a decline in the U.S. rig count and supply disruptions from Libya to Venezuela as reasons for a tight market.
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