WTI crude hits 6-year high, Brent nears $78 as OPEC+ talks collapse
Oil prices surged to multi-year highs on Tuesday including US crude hitting its highest since 2014 after OPEC+ producers fell out over plans to raise supply in the face of rising global demand.
Brent crude climbed 62 cents, or 0.8 per cent, to $77.78 a barrel by 0748 GMT, a level not seen since October 2018.
US West Texas Intermediate (WTI) crude futures traded up $1.75, or 2.3 per cent, at $76.91, their highest since November 2014.
Talks collapsed on Monday among ministers from OPEC+, which groups producers from the Organization of the Petroleum Exporting Countries (OPEC) with Russia and others.
