Oil prices hit 2019 highs amid supply cuts, trade talk hopes | Reuters

Oil prices hit 2019 highs amid supply cuts, trade talk hopes | Reuters:

Oil prices on Monday hit their highest levels since November last year, lifted by OPEC-led supply cuts, U.S. sanctions on Iran and Venezuela, and hopes that the Sino-U.S. trade dispute may soon end.

International Brent crude futures were at $66.66 per barrel at 0746 GMT, up 41 cents, or 0.6 percent, from their last close. Brent earlier climbed to its highest since November 2018 at $66.78 a barrel.

U.S. West Texas Intermediate (WTI) crude oil futures were at $56.07 per barrel, up 48 cents, or 0.9 percent, from their close. WTI prices also rose to their highest since November, at $56.13 per barrel, earlier on Monday.