US oil settles 0.1% higher at $57.83 a barrel ahead of crude stock data


US oil settles 0.1% higher at $57.83 a barrel ahead of crude stock data

Oil prices rose slightly on Tuesday ahead of U.S. data expected to show crude stocks declining there, outweighing investors’ concerns that U.S.-China trade tensions could weigh on fuel demand.Benchmark Brent crude futures were up 32 cents at $65.18 a barrel.

U.S. crude futures rose 18 cents to $58.09 a barrel. Investors shrugged off U.S. President Donald Trump’s comments on Tuesday that the United States would obliterate parts of Iran if it attacked “anything American.”

Oil-market jitters over the escalating tension between the United States and Iran have eased after Trump targeted Supreme Leader Ayatollah Ali Khamenei and other top Iranian officials with sanctions on Monday, after calling off a retaliatory air strike, analysts said. Read More

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