LONDON—Oil prices edged higher on Tuesday as investors weighed a possible tightening of U.S. crude supplies against weaker-than-expected Chinese economic growth.
Both contracts fell more than 1.5 percent on Monday, following lacklustre Chinese data and the partial restart of some Libyan oilfields.
Brent crude was up 51 cent at $79.01 a barrel by 0956 GMT, while U.S. West Texas Intermediate (WTI) crude rose 55 cents to $74.7 a barrel in relatively muted trading, with the contract set to expire on Thursday. The September WTI contract was also up 55 cents to $74.63.
Market participants were awaiting industry data later on Tuesday that is expected to show U.S. crude oil stockpiles and product inventories fell last week….