Singapore — Brent crude oil prices hit 2019 highs above $65 a barrel on Friday, spurred by Opec-led supply cuts and a partial shutdown of Saudi Arabia’s biggest offshore oilfield. Brent rose as high as $65.10, pushing past the $65 mark for the first time this year, before edging back to $64.89 a barrel by 5.31am GMT. That was still 0.5% above the last close. The international benchmark for oil prices is at a near three-month high and set for a 4.5% gain for the week. US West Texas Intermediate (WTI) crude futures were at $54.61 a barrel, up 20c, or 0.4%, from their last settlement. Traders said prices were pushed up by the partial closure of Saudi Arabia's Safaniyah, its biggest offshore oilfield with a production capacity of more than 1-million barrels a day. The shutdown occurred earlier this week, a source said, and it was not immediately clear when the field would return to full capacity. The partial closure comes on top of voluntary supply cuts led by producer cartel Opec, of w...
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