Brent futures rose US$1.92, or 3.2%, to settle at US$62.15 a barrel, while US West Texas Intermediate (WTI) crude gained US$1.96, or 3.4%, to close at US$59.09.
NEW YORK: Oil prices climbed about 3% on Tuesday on signs of higher demand in Europe and China, lower production in the US, tensions in the Middle East and as buyers emerged the day after prices fell to a four-year low.
Brent futures rose US$1.92, or 3.2%, to settle at US$62.15 a barrel, while US West Texas Intermediate (WTI) crude gained US$1.96, or 3.4%, to close at US$59.09.
