Oil rose towards $65 a barrel on Tuesday as OPEC supply cuts and Middle East ten...
LONDON - Oil rose towards $65 a barrel on Tuesday as OPEC supply cuts and Middle East tensions outweighed the U.S.-China trade dispute that has been dragging down the global economy and oil demand.
Benchmark Brent crude rose 33 cents to $64.44 a barrel by 1211 GMT. U.S. West Texas Intermediate crude was up 26 cents to $57.92. Rising tensions between Iran and the United States have brought the two countries close to conflict. Last month, President Donald Trump called off air strikes at the last minute in retaliation for Iran shooting down a U.S. drone.
The decline follows the discovery of contaminated Urals crude that affected the Druzhba pipeline to Europe.
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