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Oil prices approach two year high

Oil prices climbed on Friday, approaching its highest level since the summer of 2015 a day after OPEC and other major producers agreed to continue reigning in output until the end of 2018 to try to reduce the global oil glut and boost prices.
 
Brent futures were trading at $64.17 a barrel with the new front month February up 60 cents, or 0.9 per cent.
 
U.S. West Texas Intermediate crude (WTI) was up $1.33, or 2.3 per cent, at $58.73. 
 
WTI's January contract does not expire till December 19.
                                                                            


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