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Singapore, August 25 (QNA) – Oil prices rose on Tuesday, after falling more than 2% in the previous session, as investors assessed the impact of harsher US secondary sanctions against Iran.
Brent crude futures rose 27 cents, or 0.3%, to $92.44 a barrel, while US West Texas Intermediate crude was up 37 cents, or 0.4% to $ 85.38 a barrel.
Both contracts settled lower on Monday, with U.S. crude oil falling to a one-week low on profit taking after prices rallied over the previous two weeks.
US Strategic Petroleum Reserve fell by about 3.7 million barrels to 289.7 million barrels last week, the lowest since November 1982. (QNA)
