Brent crude edged up towards $103 a barrel on Tuesday

Brent crude edged up towards $103 a barrel on Tuesday

Brent crude rose 8 cents to $102.73 a barrel as of 0627 GMT, after closing up 36 cents. U.S. crude, or West Texas Intermediate (WTI), gained 18 cents to $93.53 a barrel after settling down for the third straight session on Monday.
The benchmark is set for a second monthly decline in August as slow growth in China and Europe has curbed oil demand and led to a supply glut in the Atlantic Basin, offsetting the impact on prices from geopolitical tensions (conflict in Iraq, Libya and Ukraine).
Supply pressure and weak economic data in major consumer countries curbed gains.

File Photo

File Photo

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