NEW YORK: Oil prices edged up to a two-week high on Tuesday as sanctions raised concerns about Russian and Iranian oil supplies and on rising Middle East tensions, outweighing worries that trade tariffs would boost inflation and dampen global economic growth.
Brent futures rose US$1.13, or 1.5%, to settle at US$77.00 a barrel, while US West Texas Intermediate (WTI) crude rose US$1.00, or 1.4%, to settle at US$73.32.
