Oil prices close at highest level in nearly two years

Oil prices closed on Friday at their highest levels in nearly two years, after producers agreed to increase supply from April by a smaller amount than expected.

A barrel of North Sea Brent Crude for delivery in May rose 3.9 percent in London to $69.36, its highest closing price since April 2019.

In New York, the barrel price of West Texas Intermediate for April delivery climbed 3.5 percent to $66.09, its highest closing level in 22 months.