27MAR2018 - NEWS - Oil prices rose on Tuesday supported by middle east tensions and OPEC led production cut

Oil prices have shown rising trend on Tuesday. Both West Texas Intermediate (WTI) crude futures and the Brent crude futures increased by around 0.2 percent. The rise in crude oil prices is due to the tensions in the Middle East which may effect the supply and the oil price rise was also supported by the OPEC and non OPEC members led supply cut. Both West Texas Intermediate (WTI) crude and the Brent crude are the classifications of the crude oil that serves as the benchmark for oil pricing worldwide.