Oil futures climbed Tuesday, with U.S. prices recouping a portion of the more than 9% loss last week. “The oil market remains too tight over the short-term and rising expectations over tougher sanctions with Russian crude should keep demand especially strong here,” said Edward Moya, senior market analyst at OANDA. West Texas Intermediate crude for July delivery rose $1.09, or 1%, to settle at $110.65 a barrel on the New York Mercantile Exchange on the contract’s expiration day. August WTI oil , which is now the front month, settled at $109.52, up $1.53, or 1.4%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
