Oil rises on US-Iran tensions, but trade war concerns weigh
Singapore: Oil prices rose on Tuesday on escalating US-Iran tensions and amid expectations that producer club OPEC will continue to withhold supply this year.
But gains were checked by concerns that a prolonged trade war between Washington and Beijing could lead to a global economic slowdown.
Brent crude futures, the international benchmark for oil prices, were at $72.24 per barrel at 0534 GMT, up 27 cents, or 0.4%, from their last close.
US West Texas Intermediate (WTI) crude futures were up 26 cents, or 0.4%, at $63.36 per barrel.
