Oil prices rise on crude supply worry, Wall Street strength

ArticleEnergyApril 18, 2018 - 6:20:36 AM

Oil prices rose on Tuesday, as support from the possibility of supply disruptions and a strong equities market offset the effects of profit-taking following last week's rally above three-year highs.

Brent crude oil futures gained 16 cents to settle at US$71.58 a barrel, while US crude futures rose 30 cents to settle at US$66.52.

"It seems as though the volatility has, for the most part, dissipated and part of that can be attributed to the lack of escalation in the events over the weekend, and we have an S&P that's a little bit stronger today," said Brian LaRose, technical analyst at United-ICAP.

The S&P 500 and the Dow Jones Industrial Average were both up about 1 per cent...


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