Prices of oil remain strong today fueled by high demand, OPEC’s continuing efforts to curb production, and potential renewal of U.S. sanctions against Iran. Although the level is keeping lower than yesterday’s maximums of the past few years due to vigorous growth of U.S. output.
Brent futures stayed at $79.55 for a barrel, increasing 25 cents since the last settlement. Yesterday Brent surpassed $80, the first case since late 2014.
U.S. WTI futures rose to $71.65 per barrel, 16 cents more in comparison to the last end of session.