Brent is close to the $ 70 level for a fourth day in a row
Oil prices rose for a fourth consecutive day on Wednesday (April 3rd), as Brent hit $ 70 a barrel as crude support from OPEC-led supply cuts and US sanctions overshadowed an unexpected surge in US stockpiles.
Brent crude futures were up 36 cents to $ 69.73 a barrel, up from $ 69.87 a barrel, the highest level since Nov. 12, the last time it was above $ 70.
US WTI rose 26 cents, or 0.4 percent, to $ 62.84 a barrel, and earlier rose to $ 62.90, its highest level since Nov. 7.
For the most part since the beginning of this year, oil prices have been supported by efforts from Opec members and outside allies such as Russia - known as the OPEC + alliance - pledging to cut supplies this year to around 1.2 million bpd.