Oil posts strongest year opening since 2014 as Iran unrest pushes up crude
Singapore — Oil prices posted their strongest opening for a year since 2014 on Tuesday, with crude rising to mid-2015 highs amid large anti-government rallies in Iran and ongoing supply cuts led by Opec and Russia. US West Texas Intermediate (WTI) crude futures were at $60.63 a barrel at 7.47am GMT, up 2c, or 0.4%, after hitting $60.74 earlier in the day, their highest since June 2015. Brent crude futures, the international benchmark, were at $67.18 a barrel, up 31c, or 0.5%, after hitting a May 2015 high of $67.29 a barrel earlier in the day. It was the first time since January 2014 that the two crude oil benchmarks opened the year above $60 a barrel. "Growing unrest in Iran set the table for a bullish start to 2018," the US-based Schork Report said in a note to clients on Tuesday. Anti-government protesters demonstrated in Iran on Sunday in defiance of a warning by authorities of a crackdown, extending for a fourth day one of the most audacious challenges to the clerical leadershi...
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