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Brent oil resumes climb to $70 on tightening global supply

Updated : April 04, 2019 07:45 PM IST

International benchmark Brent futures rose 16 cents to $69.47 by 1346 GMT. Brent touched $69.96 on Wednesday - the highest since November 12, when it last traded above $70.
US West Texas Intermediate (WTI) crude slipped 13 cents to $62.33 a barrel. The contract hit $62.99 on Wednesday, also the highest since November.
Brent has gained nearly 30 percent this year, while WTI has risen nearly 40 percent. Prices have been underpinned by US sanctions on Iranian and Venezuelan crude, along with OPEC production cuts and rising global demand.
Brent oil resumes climb to $70 on tightening global supply

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