Oil prices crept higher on Wednesday, supported by supply cuts by producer club Organisation of Petroleum Exporting Countries (OPEC) and United States (US). sanctions against oil exporters Iran and Venezuela, but restricted by expectations that an economic slowdown could soon dent fuel consumption.
International benchmark Brent futures were at $70.66 per barrel at 0158 GMT, up five cents from their last close.
US West Texas Intermediate (WTI) crude oil futures were at $64.10 per barrel, up 12 cents, or 0.2 percent, above their last settlement.
Both benchmarks hit five-month highs on Tuesday, before easing on global growth worries.
