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More 3 1/2-Year Highs for Oil Prices; Brent Nears $80

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05/17/2018 | 06:48am CEST

By Biman Mukherji

--Oil prices rose to fresh 3 1/2-year highs in Asia on Thursday, helped by a pullback in the dollar.

--June light, sweet crude on the New York Mercantile Exchange was recently up 0.3% at $71.72 a barrel in the Globex trading session. July Brent rose 0.2% to $79.41.

--With Brent prices continuing to march to $80, a widening gap with the U.S. benchmark is encouraging a surge in exports of American crude.

Write to Biman Mukherji at [email protected]

Stocks mentioned in the article
ChangeLast1st jan.
LONDON BRENT OIL -0.37% 78.482 Delayed Quote.19.37%
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