REUTERS

The international benchmark settled on Thursday in New York at a 27-month high of $59.30, up 1.5 per cent on the day, The Financial Times said.

Read alsoOil prices inch lower on increases in U.S. crude inventories, production – mediaThe marker was buoyed as comments from Saudi Arabia earlier in the week kept alive speculation on an extension to supply cuts by OPEC and non-OPEC producers.