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Oil remains near 2015 highs on tight outlook

Brent, WTI hit highest levels since mid-2015; jumps were fuelled by pipeline outages in Libya and North Sea

Published Wed, Dec 27, 2017 · 09:50 PM

Singapore

OIL prices on Wednesday remained near 21/2-year highs from the previous session as the market outlook for 2018 is relatively tight, although the gradual resumption of flows through a major North Sea pipeline prevented crude from rising.

US West Texas Intermediate (WTI) crude futures were at US$59.87 a barrel, down 10 US cents from their last settlement. WTI broke through US$60 a barrel for the first time since June 2015 in the previous session.

Brent crude futures were at US$66.80 a barrel, down 22 US cents after breaking through US$67 for the…