Oil rises in early Asian trading, Middle East tensions remain in focus
Oil prices edged higher in early Asian trading on Tuesday, reversing losses from the previous session, as investors continued to assess the risk from geopolitical concerns in the Middle East.
Global benchmark Brent crude oil futures rose 39 cents, or 0.5%, to $87.39 a barrel by 0033 GMT, while U.S. West Texas Intermediate crude futures were up 40 cents, or 0.5%, to $82.30 a barrel.
Both benchmarks fell 29 cents in the previous session on signs that a recent escalation of tensions between Israel and Iran had little near-term impact on oil supplies from the region.
Oil prices edged higher in early Asian trading on Tuesday, reversing losses from the previous session, as investors continued to assess the risk from geopolitical concerns in the Middle East.
Global benchmark Brent crude oil futures rose 39 cents, or 0.5%, to $87.39 a barrel by 0033 GMT, while U.S. West Texas Intermediate crude futures were up 40 cents, or 0.5%, to $82.30 a barrel.
Both benchmarks fell 29 cents in the previous session on signs that a recent escalation of tensions between Israel and Iran had little near-term impact on oil supplies from the region.