Oil Updates – crude inches up on Middle East concerns; China worries limit gains

SINGAPORE: Oil prices gained on Tuesday following a more than 1 percent drop the previous session as escalating geopolitical tensions in major producing region the Middle East fueled supply concerns, according to Reuters.

Brent crude futures rose 7 cents, or 0.07 percent, to $82.46 a barrel by 10:34 a.m. Saudi time. US West Texas Intermediate crude was up 15 cents, or 0.31 percent, at $76.93 a barrel.

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