Oil price hits three-months high at $41.43

Oil prices rose one per cent yesterday with benchmark Brent prices hitting a three-month high on hopes for a coordinated approach by major producers to support prices.

Brent crude futures were trading at $41.43  a barrel at  their highest since Dec. 9, up 59 cents on the day.

On Monday, the contract had climbed by 5.5 per cent in intra-day trading