Oil rose further above $68 a barrel briefly on Tuesday, touching its highest since May 2015, supported by OPEC-led production cuts and expectations U.S. crude inventories fell for an eighth week. The Organization of the Petroleum Exporting Countries and allies including Russia are keeping supply limits in place in 2018, a second year of restraint, to reduce a price-denting glut of oil held in inventories. OPEC is cutting output by even more than it promised [OPEC/O] and the restraint is reducing oil stocks globally, a trend most visible in the United States, the world's largest and most transparent oil market. Click Read More below for additional information.
National Average Price for Regular Unleaded Current: $3.561; Month Ago: $3.528; Year Ago: $4.247. National Average Price for Diesel Current: $4.087; Month Ago: $4.211; Year Ago: $5.473.