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Oil prices rose on Tuesday to reach their highest level since early July as signs of tighter supply and improving Chinese refining demand helped investors shrug off worries about an economic slowdown because of the U.S.-China trade conflict.
Prices also remained supported after reports that oil producers participating in a supply-reduction agreement have cut output in July by 9 percent more than called for.
Brent crude oil was up 45 cents or 0.59 percent at $76.95 a barrel while U.S. crude futures for October delivery were up 0.35 percent at $69.11 a barrel.
Attention now turns towards the weekly U.S. API crude inventory data due later in the day and official data due on Wednesday from the U.S. Energy Information Administration (EIA).
