Oil prices steady as market focuses on supply risks


Oil prices steady as market focuses on supply risks

Oil prices were steady on Tuesday, as fighting in Libya and falling Venezuelan and Iranian exports raised concerns over tightening global supply, but uncertainty surrounding an OPEC-led production cut limited gains.

Brent crude, the global benchmark, was up 19 cents at $71.37 a barrel around 12:35 p.m. ET (1635 GMT). Brent hit a five-month high at $71.87 on Friday.

U.S. West Texas Intermediate crude gained 29 cents, or half a percent, to $63.69. WTI was trading about a dollar below last week’s high going back to Nov. 1. Read More

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