Oil prices rise on renewed risk appetite, tight OPEC supply

Published by
Reuters UK

By Sonali Paul and Koustav Samanta SINGAPORE (Reuters) – Oil prices climbed on Tuesday, with investors regaining some risk appetite as they await clues from the U.S. Federal Reserve chairman on potential interest rate rises and as some oil producers continued to struggle to beef up output. Brent crude futures gained 40 cents, or 0.5%, to $81.27 a barrel at 0529 GMT, after dropping 1% in the previous session. U.S. West Texas Intermediate (WTI) crude futures rose 52 cents, or 0.7%, to $78.75 a barrel, after falling 0.8% on Monday. A weaker U.S. dollar helped support oil prices on Tuesday, as it …

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