A Petrobras oil platform is seen at Guabanara bay in Rio de Janeiro. The firm’s production numbers have been hit by oilfield divestments in recent years. ― Reuters
NEW YORK: Oil prices reached multi-year highs on Monday before steadying, as tight global supply and strengthening fuel demand in the United States and beyond supported prices.
Brent crude futures gained 46 cents to settle at $85.99 a barrel. The contract reached a session high of $86.70 a barrel, its highest level since October 2018.
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