Brent oil briefly touches $70 per barrel on tight supply | Reuters

Brent oil briefly touches $70 per barrel on tight supply | Reuters:

Brent oil prices rose on Thursday, briefly touching $70 a barrel for the first time since November as expectations of tight global supply outweighed pressure from rising U.S. production and less robust global demand indicators.

International benchmark Brent futures settled up 9 cents at $69.40. Brent touched a session high of $70.03, the highest since Nov. 12 when it last traded above $70. 


U.S. West Texas Intermediate (WTI) crude fell 36 cents a barrel to settle at $62.10. The contract hit $62.99 on Wednesday, its highest since November.