SINGAPORE: OilNSE 1.15 % prices rallied on Friday, with Brent crude futures hitting fresh 2019 highs amid US sanctions against Venezuela and Iran and supply cuts led by the Organization of the Petroleum Exporting Countries (Opec).
Brent pushed above $65 per barrel for the first time in 2019, before edging back to $64.91 a barrel by 0143 GMT. That was still 0.5 per cent above the last close.
The international benchmark for oil prices is at a near 3-month high and set for a 4.5 per cent gain for the week.
US West Texas Intermediate (WTI) crude futures were at $54.74 per barrel, up 33 cents, or 0.6 per cent, from their last settlement.
