Oil prices rose on Tuesday as a supply crunch in natural gas, electricity and coal continued across the globe while falling temperatures in China revived concerns over whether the world’s biggest energy consumer can meet domestic demand for heating.
The Brent crude benchmark rose 35 cents, or 0.4%, to $84.68 a barrel by 0827 GMT after falling 0.6% on Monday. The contract is still up nearly 7% this month.