MELBOURNE: Oil rose in early trade on Tuesday, paring sharp overnight losses, as the latest tropical storm in the Gulf of Mexico lost strength, but worries about fuel demand persisted with flare-ups around the globe in coronavirus cases.
U.S. West Texas Intermediate (WTI) crude futures for October, due to expire on Tuesday, rose 26 cents, or 0.7%, to $39.57 a barrel at 0224 GMT. The more active November contract rose 15 cents, or 0.4%, to $39.69.
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