Speaking the Nations Mind

Oil Prices Rise Sharply


Oil prices rose on Tuesday, lifted by indications that supply may be tightening gradually, especially in the United States.

Benchmark Brent crude oil LCOc1 was up 20 cents at $51.86 a barrel by 0930 GMT. U.S. light crude CLc1 was 15 cents higher at $47.52.

“U.S. crude oil stocks have been falling consistently in recent weeks,” said Fawad Razaqzada, market analyst at futures brokerage Forex.com.