Oil prices rise; WTI crosses $64

Oil prices edged higher on Tuesday, with West Texas Intermediate (WTI) crude crossing the $64-mark, supported by a weak US dollar and despite a rise in coronavirus cases in India – world’s third biggest consumer.

International benchmark Brent crude was trading up 0.9% at $67.69 per barrel (bbl), at 9.47 am Makkah time.

WTI crude rose 1.1% to $64.1/bbl.

Libya's oil production fell below 1 million barrels per day for the first time in months, as delays in funds for infrastructure repairs caused stoppage of work at a major port, Bloomberg reported.

Meanwhile, the OPEC+ may skip the planned ministerial meeting next week, the news agency reported, citing delegates, indicating that members do not see the need to review the current production strategy.