April 19, 2018

Oil near late-2014 highs as Saudi backs higher prices, U.S. crude stocks decline

 

Oil prices rose on Thursday to their highest since the end of 2014 as U.S. crude inventories declined and as top exporter Saudi Arabia pushes for higher prices by continuing to withhold supplies.
Brent crude oil futures (LCOc1) rose to as much as $74.02 a barrel, the highest since Nov. 27, 2014, and were at $73.93 per barrel at 0514 GMT, up 45 cents, or 0.6 percent, from their last close.

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