Oil prices were moving higher on Tuesday, though gains were checked amid an escalation in the trade war between the United States and China.
Brent crude futures were at $70.30 a barrel at 0318 GMT, up 7 cents, or 0.1%, from their last close. Brent ended the previous session down 0.6%ediate (WTI) crude futures were at $61.11 per barrel, up 7 cents, or 0.1%, from their previous settlement. WTI closed down 1% on Monday.
Headlines from the Middle East grabbed attention early in the session after Saudi Arabia said two of its oil tankers were among those attacked off the coast of the United Arab Emirates, describing it as an attempt to undermine security of supply amid United States-Iran tensions.
But analysts said the U.S.-China trade war continued to cast a pall on the market as a whole.
www.commoditybazaar.co
c/w -8859513202