SINGAPORE: OilNSE 0.08 % prices rose on Friday, pushed up by ongoing supply cuts led by producer club OPEC and US sanctions against Iran and Venezuela, which have given crude markets the biggest first quarter price push since 2009.
US West Texas Intermediate (WTI) futures were at $59.54 per barrel at 0100 GMT, up 24 cents, or 0.4 per cent, from their last settlement.
Oil prices have been supported for much of 2019 by efforts by the Organization of the Petroleum Exporting Countries (OPEC) and non-affiliated allies like Russia, known as OPEC+, who have pledged to withhold around 1.2 million barrels per day (bpd) of supply this year to prop up markets.
