Crude shows the most impressive peaks since mid-2015

Crude shows the most impressive peaks since mid-2015

On Thursday, crude reached their highest value for more than 2-1/2 years, thus marking levels not observed since before a dip in commodity markets in 2014/15, underpinned by tensions in major producer Iran as well as by everlasting OPEC-led output cuts.

Prices were also supported by Asia's stock markets that flirted with 10-year maximums on Thursday amid firm data from key economies including Germany, Japan and the United States.

American West Texas Intermediate crude futures hit $62.12 a barrel, rising 0.8% from their previous settlement. They hit $62.17 briefly before, their highest outcome since May 2015.

As for Brent crude futures, they hit $68.13 a barrel, adding 0.4%, having reached a May-2015 maximum of $68.19 before.

Freezing weather in America has also powered short-term demand, in particular for heating oil.

Meanwhile, Iran's elite Revolutionary Guards have had to deploy forces to up to three provinces for the purpose of putting down anti-government unrest, which has been lasting for a week, as their commander told on Wednesday.


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