Oil climbs on geopolitical tensions, economic data

March Brent crude futures rose 47 cents to settle at US$82.87 a barrel. US West Texas Intermediate crude settled up US$1.04, or 1.35%, at US$77.82.

NEW YORK: Oil prices rose on Tuesday as a higher global economic growth forecast and escalating tensions in the Middle East offset concerns around Chinese demand.

March Brent crude futures, which expire on Wednesday, rose 47 cents to settle at US$82.87 a barrel. The more active April contract settled up 67 cents at US$82.50.