Singapore: Oil hovered slightly below 2019 peaks on Friday, propped up by ongoing supply cuts led by producer club OPEC and by US sanctions on Iran and Venezuela.
Concerns that an economic slowdown might soon impact fuel consumption are preventing crude prices from rising further, analysts said.
Brent crude oil futures were at $67.92 per barrel at 0643 GMT, 6 cents above their last close. Brent hit a four-month high of $68.69 per barrel on Thursday.
US West Texas Intermediate (WTI) futures were at $60.04 per barrel, up 5 cents from their last settlement. WTI marked a 2019 peak in the previous session at $60.39.
