Oil prices rose Tuesday morning amid receding U.S.-China trade tensions and rising geopolitical upheaval in the Middle East.
Brent crude, the global benchmark, was up 1.4% at $69.60 a barrel on London’s Intercontinental Exchange. On the New York Mercantile Exchange, West Texas Intermediate futures were trading up 1.4% at $64.31 a barrel.
Oil-market observers are looking ahead to monthly reports this week from the U.S. Energy Information Administration, the International Energy Agency and the Organization of the Petroleum Exporting Countries.
Among refined products, Nymex reformulated gasoline blendstock the benchmark gasoline contract — was up 0.9% at $2.00 a gallon.