Oil hits highest since November as U.S. to tighten Iran sanctions - Reuters

Oil hits highest since November as U.S. to tighten Iran sanctions - Reuters:

Oil prices hit their highest since November on Tuesday after Washington announced all waivers on imports of sanctions-hit Iranian oil would end next week, pressuring importers to stop buying from Tehran and further tightening global supply.

Brent crude futures were at $74.25 per barrel at 1055 GMT, up 21 cents or 0.28 percent from their last close, after reaching their loftiest level since November at $74.70.

U.S. West Texas Intermediate crude futures were at $65.94 per barrel, up 39 cents or 0.59 percent, having marked their strongest since October at $66.19 in earlier trading.