LONDON: Oil prices rose for a fourth day on Tuesday on optimism the US Federal Reserve will this week cut interest rates for the first time in more than 10 years, supporting fuel consumption in the world’s biggest oil user.
Brent crude rose 63 cents to $64.34 a barrel by 1127 GMT. It is set for a monthly fall of more than 3 per cent, however, due to lingering worries about oil demand.
US crude was up 46 cents at $57.33 a barrel, but also set for a monthly decrease of around 1.8 per cent.
