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The Economic Times

Business

Oil prices gain as focus shifts to supply recovery and demand

United States Oil Asia China Saudi Arabia United Arab Emirates

Oil prices edged higher on Tuesday, but gains were limited as traders looked beyond easing geopolitical tensions in the Middle East and turned their attention to supply increases and demand prospects.

Brent crude futures gained 28 cents, or 0.39%, to $72.29, and U.S. West Texas Intermediate crude rose to $68.84 a barrel, up 29 cents, or 0.26% as of 0046 GMT, after ‌settling down to ⁠around pre-Iran ⁠war levels on Monday.

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