Oil rally pushes prices higher

Oil prices edged higher to touch their highest levels since May 2015, supported by Opec-led production cuts and expectations that US crude inventories have dropped for an eighth week, writes Devika Krishna Kumar and Alex Lawler.

Opec 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.