Oil Updates – prices edge up on Middle East risk

Oil Updates – prices edge up on Middle East risk

SINGAPORE: Oil prices rose slightly on Tuesday on fears Middle East tensions could disrupt supply, but uncertainty about the pace of potential US interest rate cuts and the ensuing impact on fuel demand capped gains, according to Reuters.

Brent futures edged up 7 cents or 0.1 percent higher to $82.07 a barrel at 7:20 a.m. Saudi time. US West Texas Intermediate crude rose 10 cents or 0.1 percent to $77.02 a barrel.

Oil prices were near flat in Monday’s trade, after gaining 6 percent last week.

The conflict in the Middle East has kept prices elevated. Oil Updates – prices edge up on Middle East risk