Oil prices rise in futures contracts

Oil prices rise in futures contracts

On Tuesday, Brent crude futures rose 5 cents or 0.06% to $78.20 per barrel after settling down 14 cents on Monday.

After a public holiday in the United States on Monday, US West Texas Intermediate crude dropped by 0.28 percent or 20 cents to $72.48 a barrel.

Asian stocks hit their lowest level in a month while US stock futures took a dip, and the dollar gained ground on Tuesday. This was due to hawkish statements made by central bank governors, which reduced expectations for an interest rate cut. Christopher Waller from the US Federal Reserve is delivering an economic outlook speech at 4 pm GMT today, which will be closely watched.