Oil posts strongest year opening since 2014

Oil prices posted their strongest opening to a year since 2014 on Tuesday, with crude rising to mid-2015 highs amid large anti-government rallies in Iran and ongoing supply cuts led by Opec and Russia.

US West Texas Intermediate (WTI) crude futures CLc1 were at $60.63 a barrel at 0747 GMT, up 21 cents, or 0.4 percent, after hitting $60.74 earlier in the day, the highest since June 2015.

Brent crude futures LCOc1, the international benchmark, were at $67.18 a barrel, up 31 cents, or 0.5 percent, after hitting a May 2015 high of $67.29 a barrel earlier in the day.

It was the first time since January 2014 that the two crude oil benchmarks opened the year above $60 per barrel.