Singapore — Oil prices rose on Tuesday, lifted by indications that supply is gradually tightening, especially in the US. Brent crude futures, the international benchmark for oil prices, were at $51.83 a barrel at 3.40am GMT, up 17c or 0.3% from their last close. US West Texas Intermediate (WTI) crude futures were at $47.53 a barrel, up 16c or 0.3%. "US crude oil stocks have been falling consistently in recent weeks. If the downtrend in oil inventories is maintained, then a bullish case can be made for oil, especially given the ongoing supply restrictions from Opec and Russia," said Fawad Razaqzada, market analyst at futures brokerage Forex.com. US commercial crude inventories have fallen by almost 13% from their March peaks, to 466.5-million barrels. Although US crude production has broken through 9.5-million barrels a day, its highest since July 2015, analysts said growth may soon slow as US energy firms are cutting the number of rigs drilling for new oil. Erik Norland of CME Group...
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