Crude oil prices in the international market witnessed a robust leap, hitting the $70 dollar mark on Thursday, the first time since November, 2018.

This is coming amidst expectations of a tight global supply of the product despite pressures arising from increasingly rising U.S production.

Brent futures went up by 69 cents, to $70.01 a barrel around, touching its highest since November 12, when it last traded above $70.

The United States West Texas Intermediate crudes were up 26 cents at $62.72 a barrel.

This is however a drop of 12 cents in the previous session after briefly hitting $62.99, also the highest since November.