Oil Prices Rise Over 1$

Oil prices rose more than $1 on Tuesday, reversing the previous days loss, amid concerns over a possible US recession reducing demand in the worlds largest oil consumer. Brent crude prices rose $1.25, or 1.6%, to $77.55 per barrel, while US West Texas Intermediate (WTI) crude futures rose $1.35, or 1.9%, to $74.29. On Monday, both benchmarks fell by about 1% against the backdrop of declining global stock markets. Source: Qatar News Agency