CRUDE OIL HITS FOUR-YEAR PEAK

LONDON — Crude oil prices shot to a four-year high on Tuesday, catapulted by imminent US sanctions on Iranian crude exports and the apparent reluctance of Opec and Russia to raise output to offset the potential hit to global supply.

Brent crude futures were up 61 cents at $81.81 a barrel by 1121 GMT, having touched a session peak of $82.20, the highest price since November 2014.

The oil price is on course for its fifth consecutive quarterly increase, the longest stretch of gains since early 2007, when a six-quarter run led to a record high of $147.50 a barrel.

US crude futures were up 30 cents at $72.38 a barrel, close to their highest since mid-July.