Oil prices hit 3-month highs on tightening supplies

Brent futures settled up 90 cents at US$83.64 a barrel, while US West Texas Intermediate (WTI) crude rose 89 cents to US$79.63.

NEW YORK: Oil prices rose to three-month highs on Tuesday, as signs of tighter supplies and pledges by Chinese authorities to shore up the world's second-biggest economy lifted sentiment.

Brent futures settled up 90 cents at US$83.64 a barrel, after hitting US$83.87 earlier, the highest since April 19.