Futures Movers: Oil prices tick higher as U.S.-Iran tensions down played for now

Oil prices clawed higher Tuesday, only mildly supported by underlying tensions between the U.S. and Iran that could further disrupt supply to the global market.

Oil market observers are looking ahead to the weekly U.S. petroleum inventory data from the American Petroleum Institute published later Tuesday, as well as official data from the Energy Information Administration on Wednesday.

Ahead of that data, U.S.-traded September West Texas Intermediate crude CLU8, +0.50% was up 38 cents, or 0.5%, at $68.27 a barrel. The contract is down some 5.8% so far this month.

September Brent crude LCOU8, +0.04% was up 15 cents, or 0.2%, at $73.20 a barrel.

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