Oil prices gained about 1 percent on Tuesday, supported by OPEC-led production cuts and U.S. sanctions against Iran and Venezuela, though remain wary of surging U.S. output and the outcome of U.S.-China trade talks.

Brent crude futures were up 61 cents at $62.12 a barrel and U.S. West Texas Intermediate (WTI) crude oil futures rose 54 cents to $52.95 a barrel by 09.50 GMT.

The continuing closure of parts of the Keystone pipeline that brings Canadian oil into the United States also helped to prop up WTI, traders said, after a partial shutdown at a Phillips 66 (NYSE:PSX) crude distillation unit led to initial sell-offs on Monday.

Reuters