Oil prices stabilized in early trading on Tuesday, after falling in the previous session, as markets balanced the continued tension in the Middle East on the one hand and demand concerns and increased OPEC supplies on the other.
Brent crude futures rose 18 cents, or 0.2 percent, to $76.30 a barrel, while U.S. West Texas Intermediate crude futures rose six cents, or 0.1 percent, to $70.83 a barrel.
Brent fell more than 3 percent and U.S. crude 4 percent on Monday on sharp price cuts by Saudi Arabia, the top oil exporter, and an increase in OPEC output.
Source (Al-Arabiya.net Website, Edited)
