Economic news

Oil climbs to top since July 2015, North Sea outage in focus

Oil prices remain within sight of its top since mid-2015 on Tuesday, as the restart of a North Sea oil pipeline is anticipated highly in the New Year.

Brent crude dipped 15 cents to $65.10 per barrel. Prices touched $65.83 on Dec. 12, their peak June 2015. West Texas Intermediate crude for February delivery edged down 7 cents to $58.40.

Brent crude has climbed 17 percent in 2017. The Organization of the Petroleum Exporting Countries, plus Russia and other main producers, have been withholding production since Jan. 1 to get rid of a glut.

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