Oil up on escalating U.S.-Iran tensions, but trade war worries cap gains - Reuters

Oil up on escalating U.S.-Iran tensions, but trade war worries cap gains - Reuters:

Oil prices rose on Tuesday on escalating U.S.-Iran tensions and amid expectations that producer club OPEC will continue to withhold supply this year.

But gains were checked by concerns that a prolonged trade war between Washington and Beijing could lead to a global economic slowdown.

Brent crude futures, the international benchmark for oil prices, were at $72.18 per barrel at 0651 GMT, up 21 cents, or 0.3 percent, from their last close.

U.S. West Texas Intermediate (WTI) crude futures were up 31 cents, or 0.5 percent, at $63.41 per barrel.