Oil prices rise on supply deficit concerns


Oil pumping jacks, also known as "nodding donkeys" in an oilfield. - Andrey Rudakov/Bloomberg

OIL prices rose on Tuesday for the fourth consecutive session, as weak shale output in the United States spurred further concerns about a supply deficit stemming from extended production cuts by Saudi Arabia and Russia.

U.S. West Texas Intermediate crude futures rose 98 cents, or 1.1%, to $92.46, by 0630 GMT, while global oil benchmark Brent crude futures rose 46 cents, or 0.49%, to $94.89 a barrel.

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Brent , WTI , OPEC

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