Singapore — Oil prices rose on Tuesday, lifted by healthy demand and output cuts led by producer group Opec. A rally in broader financial markets also supported crude futures, although analysts still warned of risks to the global economy. US West Texas Intermediate (WTI) crude oil futures were at $56.97 a barrel at 12.54am GMT, up 18c, or 0.3%, from their last settlement. Brent crude futures were at $66.75 a barrel, up 17c, or 0.3%. “[Despite economic headwinds], we still see Brent prices averaging $70 a barrel this year and expect WTI to lag, averaging $59 a barrel in 2019,” said Bank of America Merrill Lynch. It said that was partly due to demand for marine diesel expected from next year as part of new fuel rules from the International Maritime Organisation. “With diesel yields already maxed out, refiners may need to lift runs in the second half of 2019 to meet rising demand for marine distillates,” it said. Oil prices have been receiving broad support this year from supply cuts b...

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