Oil prices rose on Tuesday on expectations that a debt ceiling deal in the United States, the world's largest oil consumer, will increase demand for crude. However, fears of higher interest rates and OPEC+ leaving production quotas unchanged limited gains.
Brent crude futures rose 35 cents, or 0.5 percent, to $77.42 a barrel after rising 12 cents on Monday. U.S. West Texas Intermediate crude rose 53 cents to $73.20 a barrel, up 0.7 percent from Friday's close.
Major oil producers will meet on June 4 without clarity on the possibility of further production cuts amid a general price slump since mid-April.
Source (Al-Arabiya.net Website, Edited)
