US oil prices close at US$51.35 a barrel, highest for 2016

US oil prices finished at their highest level of 2016, after President Vladimir Putin said Russia was ready to align with OPEC's push to limit oil output.
US oil prices finished at their highest level of 2016, after President Vladimir Putin said Russia was ready to align with OPEC's push to limit oil output.PHOTO: AFP

NEW YORK (AFP) - US oil prices finished at their highest level of 2016 on Monday after President Vladimir Putin said Russia was ready to align with OPEC's push to limit oil output.

US benchmark West Texas Intermediate for November delivery jumped $1.54 to US$51.35 (S$70.62) a barrel on the New York Mercantile Exchange, the highest closing price since July 2015.