Oil close to 2014 highs

The price of WTI crude oil increases during trading on Tuesday, while Brent is moderately cheaper after a significant rise in the last session, with both marks close to their highest levels since December 2014.

Brent oil futures on the London ICE Futures exchange fell 26 cents (0.37%) to $ 70 a barrel for March delivery. WTI crude for February delivery at NYMEX electronic trading in New York rose 22 cents to $ 64.52 a barrel.

At the auction on January 15, the Brent futures quotation increased by $ 0.39 (0.56%) and amounted to $ 70.26 per barrel.

The rise in oil prices is associated with the efforts of OPEC + to cut production. However, analysts at major banks, including Citigroup, Societe Generale and JPMorgan Chase, believe that the accelerated market recovery could lead to the cartel countries and their partners abandoning production restrictions as early as mid-2018, rather than in December, as the agreement suggests. strony.