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Oil prices tick up as markets weigh Middle East tensions, supply forecasts.

Oil prices rose on Friday as geopolitical tensions and oil output disruptions in the U.S., the world’s biggest producer, caused by cold weather overshadowed concerns about slow Chinese demand growth and forecasts for ample supply.

Brent crude futures rose 2 cents to $79.12 a barrel by 0715 GMT, while U.S. West Texas Intermediate crude futures (WTI) were up 13 cents to $74.21.