Crude hit 33-month high on tighter supply outlook

International benchmarks for crude oil surged to the highest levels in more than two and a half years on Tuesday, 13 July 2021 after the Energy Information Agency (EIA) said that the market should expect tighter supply as a result of OPEC+ disagreement on the production output.

Brent rose $1.33, or 1.8% to settle at $76.49/barrel.

WTI rose $1.15, or 1.6% to $75.25/barrel.