Oil Prices Climb, But Economic Concerns Persist

Doha: Oil prices climbed on Tuesday, although concerns persisted over economic headwinds from tariffs and US monetary policy that could dampen fuel demand. Brent crude futures rose 36 cents, or 0.5%, to 66.62 a barrel. The US West Texas Intermediate crude contract for May, which expires on Tuesday, was at 63.73 a barrel, up 65 cents, or 1%.

According to Qatar News Agency, the more actively traded WTI June contract was up 0.7%, or 43 cents, at 62.84 a barrel. Both benchmarks dropped more than 2% on Monday, as signs of progress in nuclear deal talks between the US and Iran helped ease supply concerns.