Thursday morning .. Oil reached a high level in 4 months

Brent futures were $ 67.84 per barrel

Brent reached its highest level since mid-November of last year, driven by OPEC-led production cuts and US sanctions on Venezuela and Iran.

Traders said an unexpected drop in US crude inventories also led to higher prices, Reuters reported.

Brent futures for the year reached $ 67.84 per barrel at $ 67.84 per barrel at $ 67.76 per barrel at 06:05 GMT, up 21 cents or 0.3% from the previous year. previous closing.

The US WTI crude futures price was $ 58.40 per barrel, up 14 cents, or 0.2% from the previous settlement price, and close to the highest level since November 2018 in the previous session.

"The scarcity of global stocks due to OPEC supply cuts and US sanctions on Venezuelan oil products is pushing up oil prices," said Benjamin Lo of Phillips Futures broker in Singapore.

The Organization of the Petroleum Exporting Countries (OPEC) and some external producers, including Russia, have been slowing down their oil supplies since the beginning of the year in order to reduce the gap between the oil and gas markets. supply and demand in world markets and support crude prices.

In Venezuela, oil production and exports were disrupted by a political and economic crisis that led to major power cuts and shortages, while Washington banned US companies from dealing with the Venezuelan government, including BP. . D. In. S. Belonging to the state er.

In the Middle East, two sources close to "Reuters" that the United States seeks to reduce Iranian crude exports by about 20% to less than a million barrels per day from May, by asking importing countries to reduce their purchases to avoid their sanctions.

At the same time, a weekly report from the US Energy Information Administration indicates that US crude oil inventories in the United States declined last week, due to the increase in refinery production.

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Brent futures were $ 67.84 per barrel

Brent reached its highest level since mid-November of last year, driven by OPEC-led production cuts and US sanctions on Venezuela and Iran.

Traders said an unexpected drop in US crude inventories also led to higher prices, Reuters reported.

Brent futures for the year reached $ 67.84 per barrel at $ 67.84 per barrel at $ 67.76 per barrel at 06:05 GMT, up 21 cents or 0.3% from the previous year. previous closing.

The US WTI crude futures price was $ 58.40 per barrel, up 14 cents, or 0.2% from the previous settlement price, and close to the highest level since November 2018 in the previous session.

"The scarcity of global stocks due to OPEC supply cuts and US sanctions on Venezuelan oil products is pushing up oil prices," said Benjamin Lo of Phillips Futures broker in Singapore.

The Organization of the Petroleum Exporting Countries (OPEC) and some external producers, including Russia, have been slowing down their oil supplies since the beginning of the year in order to reduce the gap between the oil and gas markets. supply and demand in world markets and support crude prices.

In Venezuela, oil production and exports were disrupted by a political and economic crisis that led to major power cuts and shortages, while Washington banned US companies from dealing with the Venezuelan government, including BP. . D. In. S. Belonging to the state er.

In the Middle East, two sources close to "Reuters" that the United States seeks to reduce Iranian crude exports by about 20% to less than a million barrels per day from May, by asking importing countries to reduce their purchases to avoid their sanctions.

At the same time, a weekly report from the US Energy Information Administration indicates that US crude oil inventories in the United States declined last week, due to the increase in refinery production.