Oil prices have risen in light of OPEC-led supply cuts and U.S. sanctions imposed on Iran and Venezuela, although gains have been limited by concerns over the growth of the economy.
According to Reuters, Brent crude futures reached $ 67.74 a barrel, up 13 cents or 0.2 percent compared to the previous close, and Brent touched Tuesday its highest level since 16 November at $ 68.20 a barrel.
The US West Texas Intermediate crude futures reached $ 59.07 a barrel, four cents or 0.1 percent higher compared to the previous settlement price. WTI reached its highest level since November 12 yesterday, Tuesday, at $ 59.57 a barrel.
Oil prices have risen by about a third this year, driven by a move led by the Organization of Petroleum Exporting Countries (OPEC) to cut about 1.2 million barrels per day of supplies, as well as sanctions imposed by the United States Oil exporters Iran and Venezuela should.
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