Oil prices rise ahead of U.S. inventory data

By Trend

Oil prices climbed on Tuesday as market participants awaited data on U.S. fuel stockpiles, Trend reports citing Xinhua.

The West Texas Intermediate for July delivery added 91 cents, or 0.8 percent, to settle at 119.41 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for August delivery increased 1.06 dollars, or 0.9 percent, to close at 120.57 dollars a barrel on the London ICE Futures Exchange.

Prices continued to garner support from a tight market and prospect of higher demand in China.