London — Oil prices rose on Tuesday thanks to a weakened dollar, supply disruption in Libya, and the latest comments from officials suggesting that oil cartel Opec could extend its deal to cut global production. But crude futures were weighed down by a resurgence in US shale oil production and the expectation that inventories in the country would, once again, build, illustrating the persistent global supply overhang that has depressed prices for three years. Prices for front-month Brent crude futures, the international benchmark for oil, had gained 48c from their last close to $51.23 a barrel by 9.10am GMT. In the US, West Texas Intermediate (WTI) crude futures were up 48c at $48.21 a barrel. Traders said Brent rebounded from testing a $50 a barrel support on Monday. Futures were supported by a weak dollar, which can attract investors to safer commodity markets while making oil cheaper for countries using other currencies. The dollar was slightly stronger against a basket of other l...
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