Oil prices flat as tight supply counters virus spread | Reuters

Oil prices flat as tight supply counters virus spread | Reuters

Oil prices were little changed on Tuesday, supported by tight supplies and rising vaccination rates but pressured by worries that surging COVID-19 cases worldwide will weigh on demand.

Brent futures rose 5 cents, or 0.1%, to $74.55 a barrel by 11:10 a.m. EDT (1510 GMT.U.S. West Texas Intermediate (WTI) crude fell 12 cents, or 0.2%, to $71.79.

That still put Brent up for a sixth straight day for the first time since May, on track for its highest close in almost two weeks.

Benchmark prices held their ground even after the United States issued travel warnings to Spain and Portugal because of rising COVID-19 cases.