Oil prices rose on Tuesday on escalating U.S.-Iran tensions and amid expectations that OPEC producers will continue to curb supply this year.
Gains were capped by concerns that a prolonged trade war between Washington and Beijing could lead to a global economic slowdown.
Brent crude futures, the international benchmark for oil prices, were at $72.31 per barrel at 1030 GMT, up 34 cents, or 0.5 percent, from their last close.
U.S. West Texas Intermediate (WTI) crude futures were up 42 cents, or 0.7 percent, at $63.52 per barrel.
U.S. President Donald Trump on Monday threatened Iran with “great force” if it attacked U.S. interests in the Middle East. This came after a rocket attack in Iraq’s capital Baghdad, which Washington suspects to have been organized by militia with ties to Iran.
Source : Reuters