Oil prices rose on Tuesday, lifted by indications that supply is gradually tightening, especially in the United States. Brent crude futures, LCOc1 the international benchmark for oil prices, were at $51.83 per barrel at 0340 GMT, up 17 cents, or 0.3 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $47.53 a barrel, up 16 cents, or 0.3 percent. “U.S. crude oil stocks have been falling consistently in recent weeks. If the downtrend in oil inventories is maintained, then a bullish case can be made for oil, especially given the ongoing supply restrictions from OPEC and Russia,” said Fawad Razaqzada, market analyst at futures brokerage Forex.com. U.S. commercial crude inventories have fallen by almost 13 percent from their March peaks, to 466.5 million barrels. C-STK-T-EIA And although […]