Commodities Oil steady after retreating from 2014 highs on dollar strength Updated : May 21, 2018 12:08 AM IST A rapid slide in oil supply from Venezuela, concern that US sanctions will disrupt exports from Iran, and falling global inventories have all combined to push oil prices up nearly 20 percent in 2018. Brent crude futures reached an intraday high of $80.50 a barrel, but later gave up most gains to settle up 2 cents at $79.30 a barrel. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.