Oil Ticks Higher as Geopolitical Tensions Mount, but Gains Likely Capped ...Middle East

Oil prices posted modest gains Tuesday, fueled by renewed geopolitical risk and signs of tightening supply, though upside may be limited by ongoing uncertainty around Iran and soft macroeconomic indicators. As of late morning, WTI crude was trading at $63.76 (+1.98%), and Brent at $65.74 (+1.72%). Both benchmarks built on Monday’s nearly 3% rally after OPEC+ confirmed it would raise output by just 411,000 barrels per day in July—below what some market watchers feared. Murban crude also rose to $65.51 (+1.13%), while U.S. natural gas…

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