Oil rises to $ 85 a barrel[/rtl]
[rtl]Release date: 2018/10/2 8:14 • 158 times read[/rtl]
Oil prices continued to rise on Tuesday in markets fearing a fall in supply, with US sanctions being re-imposed on Iran, while some investors are reluctant to talk about a price of $ 100 a barrel.
At 5:15 GMT, the price of Brent crude was $ 85 a barrel, up 5 cents, or 0.06 percent, from the last close of the market.
Oil futures jumped more than $ 2 a barrel on Monday, hitting levels not seen since November 2014 as US sanctions on Iran and agreement to salvage the North American Free Trade Agreement (NAFTA) approach.
Investors said they expected higher prices as demand for options for Brent crude rose to $ 90 a barrel by the end of October.
Analysts said rising oil prices and the strength of the dollar could hurt growth in demand for crude next year.
The market is currently focused on US sanctions on Iran's energy sector, which will come into force on Nov. 4 and aim to halt oil exports from the world's third biggest crude producer.