BUSINESS, Commerce

Oil Prices Continue To Surge

Oil prices continue to gallop hitting an 18-month high on the first trading day of the New Year.

This comes against the background of a deal between OPEC and other big oil exporters to cut production, geared to start on Sunday, and touted to soak up the global supply glut.

U.S. light crude oil hit an 18-month high of $55.24, up $1.52 a barrel, also its highest since July 2015, before slipping to around $55.00.

Carol Maye, Readers Bureau, Fellow

Edited by Jesus Chan

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