Brent nears $72 amid tightening supplies; surprise draw in US crude stocks
Updated : April 17, 2019 07:16 AM IST
International benchmark Brent crude oil futures rose 21 cents, or 0.3 percent, to $71.93 a barrel by 0034 GMT. Brent earlier hit a fresh five-month high of 71.96 a barrel, the highest since November 8 when prices topped $72 a barrel.
US West Texas Intermediate (WTI) crude futures were at $64.45 per barrel, up 40 cents, or 0.62 percent, from their previous settlement.
In June, the producer group and others will decide whether to continue to curb their production, although concerns have arisen over Russia’s willingness to stick with the cuts.