Oil steadies as stronger dollar counteracts Red Sea disruptions

Brent crude futures rose 14 cents, or 0.2%, to settle at US$78.29 a barrel. US West Texas Intermediate crude futures (WTI) ended at US$72.40 a barrel, down 28 cents, or 0.4%, from Friday's settlement.

NEW YORK: Oil prices were little changed on Tuesday, pressured as the dollar jumped to its highest in a month but supported by jitters about the impact to energy supplies from escalating tensions in the Middle East.

Global benchmark Brent crude futures rose 14 cents, or 0.2%, to settle at US$78.29 a barrel. At the session high, Brent futures were up by a dollar a barrel.