World oil prices struck fresh 2019 peaks on Tuesday, boosting energy shares prices.

Crude futures extended Monday’s sharp rally, which was triggered by a US crackdown on Iranian oil exports.

Brent North Sea crude reached $74.70 per barrel Tuesday, the highest point since early November.

WTI hit a similar near six-month high at $66.19 per barrel.

“UK markets have returned from their long break with solid gains for the FTSE 100, led by strength in oil stocks thanks to the surge in crude prices over the past 24 hours,” noted Chris Beauchamp, chief market analyst at IG trading group.

Brent had rallied more than two dollars per barrel on Monday and WTI jumped $1.70.

Source: AFP