Oil prices recover on tight supply bets even as M.East fears clear

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Oil prices rose in Asian trade on Tuesday as traders priced out the risk premium in crude due to easing tensions over an Iran-Israel war. Despite recent losses, oil prices were still relatively buoyant on expectations of tighter supplies in the coming months. Recent production curbs from Russia and increasing U.S. fuel demand with the spring season were seen as factors contributing to the tightening of oil markets. Brent oil futures rose 0.4% to $87.39 a barrel, while West Texas Intermediate crude futures rose 0.5% to $82.32 a barrel.

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