Oil soars to 3-yr high as Saudi withholds supply, seeking $80-100 a barrel

Oil prices on Thursday remained close to late 2014-highs reached in the previous session as US crude inventories declined and as top exporter Saudi Arabia pushes for prices of $80 to $100 per barrel by continuing to withhold supplies. Brent crude oil futures were at $73.82 per barrel at 0325 GMT, up 34 cents, or 0.5 percent, from their last close.

US West Texas Intermediate (WTI) crude futures were up 28 cents, or 0.4 percent, at $68.75 a barrel. Brent on Wednesday marked its highest level since November, 2014 at $73.93 per.....

This article is no longer available in our repository.

There could be multiple reasons for this.