Oil Prices Hit 2019 Highs Amid OPEC-Led Supply Cuts

Oil prices rallied on Friday, with Brent crude futures hitting fresh 2019 highs amid U.S. sanctions against Venezuela and Iran and supply cuts led by the Organization of the Petroleum Exporting Countries (OPEC).

Brent pushed above $65 per barrel for the first time in 2019, before edging back to $64.91 a barrel by 0143 GMT. That was still 0.5 percent above the last close.

The international benchmark for oil prices is at a near 3-month high and set for a 4.5 percent gain for the week.

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