Oil hovers near 2019 highs on OPEC-led supply cuts, U.S. sanctions
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SINGAPORE (Reuters) - Oil prices hovered just below 2019 highs early on Tuesday, supported by ongoing supply cuts led by producer club OPEC.U.S. sanctions against oil producers Iran and Venezuela are also boosting crude prices, although traders say the market looks capped by rising American output.U.S. West Texas Intermediate (WTI) futures were at $59.08 per barrel at 0152 GMT, virtually unchanged from their last settlement and close to the 2019 high of $59.23 reached the previous day.Brent..