Oil hits 2-1/2yr high of $67.5

Oil prices rose nearly 2% on Wednesday to the highest in 2-1/2 years, with buying spurred on by a sixth day of unrest in Opec member Iran and strong economic data from the US and Germany.

Iran’s elite Revolutionary Guards have deployed forces to three provinces to put down anti-government unrest, their commander said on Wednesday. Six days of protests have left 21 people dead.

US West Texas Intermediate crude futures were at $61.4 barrel, 98 cents or 1.6%, just off the session high of $61.5, their highest since June 2015.

International benchmark Brent crude futures were up 89 cents or 1.3% at $67.5 a barrel after touching $67.6 a barrel, the highest since May 2015.

No comments: