NEW YORK: Oil prices rose more than 2% on Tuesday, supported by hurricane supply disruptions in the United States, but demand concerns loomed as energy industry forecasters predicted a slower-than-expected recovery from the pandemic.
Brent crude gained US92 cents, or 2.3%, to settle at $40.53 a barrel, while U.S. West Texas Intermediate (WTI) crude futures rose $1.02, or 2.7%, to settle at $38.28 a barrel. Both contracts fell on Monday.
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