US crude futures hit $85 a barrel in New York for the first time since October, as OPEC+ supply cuts underpin a steadily strengthening market.
West Texas Intermediate futures rose as much as 1.6%.
Production curbs by the Organization of Petroleum Exporting Countries and its allies — coupled with a robust outlook for consumption this year — have helped push prices higher. Conflict in the Middle East has also caused swaths of global shipping to divert around Africa to keep crews and cargo safe.
Nearby oil futures are trading at large premiums to those later for a later date, indicating strong demand for barrels for immediate delivery.
The numbers show a worrying trend – should we be concerned?
Authorities investigate the death of Mohamed Coulibaly weeks after a Barron's report detailed his alleged fraud targeting ex-NFL players.
Also, Kestra welcomes an experienced $240 million Hightower Advisor, while $38 billion indie RIA Oxford Financial adds a managing director to its Grand Rapids, Michigan office.
UBS wins clawback of bonus money from advisor recruited from First Republic.
Abry Partners exits after three years as the wealth manager expands family office and tax advisory services.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
