Oil prices rise to $98, highest in a month

London: Oil rose on Tuesday to the highest level in a month, above $98 a barrel, driven by expectations that supplies will be tight.

US crude was up $2.60 at $98.10 a barrel by 1404 GMT,
having climbed as high as $98.35. London Brent crude rose $2.10 to $97.01.

US crude struck a record high price at $100.09 on January 3.

Tuesday's rally extends four days of gains, although trade
was limited on Monday by a US public holiday.

Prices began to rally last week after Venezuela cut exports
to Exxon Mobil, but stopped short for now of a wider disruption to the United States, the world's biggest oil consumer.