Oil prices rise on OPEC output talks, Iran tension
Oil prices rose on Tuesday as tension simmered following Iran’s seizure of a South Korean vessel and as the OPEC+ group of producers were divided over February output levels.
Brent crude futures for March rose 86 cents to $51.95 a barrel by 1410 GMT, while US West Texas Intermediate crude for February was at $48.51 a barrel, up 89 cents.
Both contracts fell more than 1% on Monday after OPEC+, which includes OPEC producers and others including Russia, failed to agree on a February output target.
