Oil prices rose to their highest level since Nov. 2018 on Monday, driven up by OPEC’s ongoing supply cuts, United States (US) sanctions against Iran and Venezuela and strong US jobs data.
International benchmark Brent futures were at $70.72 per barrel at 0225 GMT on Monday, up 38 cents, or 0.5 per cent from their last close.
US West Texas Intermediate (WTI) crude were up 37 cents, or 0.6 per cent, at $63.45 per barrel.
Brent and WTI both hit their highest levels since November last year at $70.76 and $63.48 per barrel, respectively, early on Monday.
