International Brent crude oil futures rose as high as USD 49.43 per barrel early on Tuesday, their highest since Oct. 31, and they were trading at USD 49.33 per barrel at 0110 GMT, up 43 cents, or 0.9 percent, from their last settlement.
Oil prices rose to their highest level since October on Tuesday as the market priced in a potential output cut led by producer cartel OPEC, although analysts warned that a failure to agree a cut could lead to a ballooning supply overhang by early 2017.
