International crude benchmark Brent hit $85.22 per barrel at 06.45 GMT on Tuesday, while American benchmark West Texas Intermediate (WTI) saw prices of $75.81 per barrel.
Brent oil traded at $82.86 per barrel at 07.35 GMT on Monday while WTI saw $73.36
Brent crude reached its highest level on Friday since November 2014, rising 2.5 percent to $80.78, after closing at $78.80 the previous week.
Experts believe that due to the political tension between Iran and the U.S. over the promised sanctions in November, production concerns have arisen in Iran and also in Venezuela resulting in Brent hitting $85 per barrel on Tuesday.
Experts also envisage the oil market shrinking due to supply concerns from these countries.
US$1 equals 5.97 Turkish liras.
By Gulsen Cagatay
Anadolu Agency
energy@aa.com.tr