Oil hits highest in a year on growth hopes, OPEC+ cuts

LONDON: Oil hit its highest in a year on Friday, closing in on $60 a barrel, supported by economic revival hopes and supply curbs by producer group OPEC and its allies.

New orders for US-made goods rose more than expected in December, pointing to continued strength in manufacturing. President Joe Biden’s drive to enact a $1.9 trillion coronavirus aid bill also gained momentum on Friday.