Oil prices rose slightly Tuesday in the course of European trade, in a context of tensions in the Middle East and economic fears.
Around 9:00 am GMT (11:00 am CET), Brent crude oil from the North Sea for October delivery was worth $ 59.96 in London, up 0.37% from Monday's close.
In New York, the US barrel of WTI for delivery in September, which is the last trading day, traded at $ 56.40, 0.34% higher than the day before.
Oil gained nearly 2% the day before, driven by a drone attack against a Saudi oilfield, claimed by Yemeni Houthi rebels.
"However, as oil production was not affected by the attack, the market response was only short-lived," said Jasper Lawler, an analyst for London Capital Group.
Indeed, the current economic context, undermined by trade tensions between China and the United States, seems to cap all possible gains of the price of the black gold.
For Tamas Varga, an analyst at PVM Reports, however, there are some elements that still support prices.
"After the release of poor economic data, China unveiled this weekend a move to lower real interest rates to support the economy," he said.
In addition, "Washington's extension of a break, allowing Chinese company Huawei to continue sourcing from US companies, has helped relieve investors," said Varga.
The US Department of Commerce extended the first exemption period granted in May to some US customers and suppliers of Huawei for 90 days.
The Trump administration had blacklisted Huawei in May, accusing the group of working with the Chinese authorities, but had already granted exemptions for an initial 90-day period.
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