SINGAPORE (Reuters) – U.S. oil prices rose for a fifth day on Wednesday to their highest since 2014 amid global concerns about energy supply on signs of tightness in crude, natural gas and coal markets.
Brent crude prices also climbed for a fourth day on the supply anxiety, particularly after the Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, decided on Monday to say with their planned output increase rather than boosting it further.
U.S. West Texas Intermediate (WTI) oil earlier rose to $79.18 a barrel, the highest since Nov. 10, 2014. The market was up 0.15%, or 12 cents, at $79.05 a barrel, as of 0128 GMT.
Brent crude added 0.15%, or 12 cents $82.68 a barrel after rising to a three-year high in the previous session.
