Oil Prices Rise Amid Concerns Over Supply from Iraqi Kurdistan

Oil prices increased at the close of trading on Tuesday, continuing the sharp gains made in the previous session due to risks of supply disruptions from the Kurdistan region of Iraq and hopes of containing the banking sector crisis. Specifically, Brent crude futures rose by 53 cents, or 0.7%, to settle at $78.65 per barrel, while U.S. West Texas Intermediate crude climbed 39 cents, or 0.5%, to settle at $73.20 per barrel.