WASHINGTON (dpa-AFX) - Oil prices climbed higher on Tuesday amid disruptions to supply from Libya as protectors prevented tankers from loading at the country's two major ports.
However, the downside was limited after Libya's state-run National Oil Corp said export activity was running normally after it held talks with protestors. A stronger dollar weighed as well on oil prices.
Oil prices had drifted lower on Monday after weak manufacturing data from China raised concerns about the outlook for demand from the world's second largest economy.
West Texas Intermediate Crude oil futures for February closed higher by $0.60 or about 0.82% at $73.77 a barrel.
The outlook for new sanctions on Iranian and Russian crude exports could limit global oil supplies and is bullish for prices.
Traders await weekly oil reports from the American Petroleum Institutue (API) and U.S. Energy Information Administration (EIA), due later in the day, and Wednesday morning, respectively.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
