Oil prices traded higher on Tuesday as escalating tensions in the Middle East kept up supply-side risks and investors looked ahead to weekly U.S. inventory data.
New York-traded West Texas Intermediate crude futures gained 15 cents, or 0.3%, to $57.81 a barrel by 9:05 AM ET (13:05 GMT), while Brent crude futures, the benchmark for oil prices outside the U.S., traded up 22 cents, or 0.3%, to $64.33.
The tension in the face-off between Washington and Iran showed no signs of abating after Iran threatened on Monday to restart deactivated centrifuges and step up its enrichment of uranium to 20%, a move that further undermines the 2015 nuclear agreement that Washington abandoned last year.
BP (LON:BP) continued to shelter an oil tanker in the Persian Gulf Tuesday for fear of retaliation, according to a Bloomberg report. BP was worried the ship could be attacked by Iran, in response to the seizure by British forces of a tanker allegedly shipping Iranian crude to Syria last week.
https://api.whatsapp.com/send?phone=8445765201
https://api.whatsapp.com/send?phone=9548534443