09 Jan '18, 11pm

High speed rail now rivals air travel on key #Asia, #Europe routes

SINGAPORE (REUTERS) - Oil prices hit their highest levels since 2014 on Wednesday (Jan 10)due to ongoing production cuts led by Opec as well as healthy demand, although analysts cautioned that markets may be overheating. A broad global market rally, including stocks, has also been fuelling investment into crude oil futures. US West Texas Intermediate (WTI) crude futures were at US$63.47 a barrel at 0405 GMT - 51 cents, or 0.81 per cent, above their last settlement. They marked a December-2014 high of US$63.53 a barrel in early trading. Brent crude futures were at US$69.19 a barrel, 37 cents, or 0.54 per cent, above their last close. Brent touched US$69.29 in late Tuesday trading, its strongest since an intra-day spike in May 2015 and, before that, in December 2014. "The extension of the OPEC agreement ... and declining inventories are all helping to drive the price higher,...

Full article: http://www.straitstimes.com/business/companies-markets/us...

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