Crude Oil Prices Hit New Highs For 2019

Credit: Wochit
Published on February 20, 2019 - Duration: 00:45s

Crude Oil Prices Hit New Highs For 2019

According to Reuters, crude oil prices hit new highs for 2019.

The price for US crude oil rose above $57 a barrel for the first time this year.

Up about 1.4-percent on the day, West Texas Intermediate crude rose to $57.26 per barrel.

The price for Brent crude oil rose about 1-percent on the day, climbing to $67.11.

Oil prices have been on the rise recently due to another round of production cuts agreed to by OPEC.

But sanctions against Iranian and Venezuelan oil exports have also had an impact on oil prices by reducing global supply.

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