Oil hit a 2019 high above $69 a barrel on Tuesday on the prospect that more sanc...
LONDON - Oil hit a 2019 high above $69 a barrel on Tuesday on the prospect that more sanctions against Iran and further Venezuelan disruptions could deepen an OPEC-led supply cut, and as the market became less worried that demand may slow.
Brent crude rose 10 cents to $69.11 a barrel by 0826 GMT, having touched $69.50, the highest since mid-November. U.S. crude was up 11 cents at $61.70 after rising above $62 for the first time since early November. Supply from the Organization of the Petroleum Exporting Countries hit a four-year low in March, a Reuters survey found, because top exporter Saudi Arabia cut more than it had agreed to and due to the involuntary declines.
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