LONDON—Oil prices rose modestly in volatile trading on Tuesday as the market weighed concerns over Russian supply and Chinese demand.
Brent crude futures were up 41 cents, or 0.4 percent, at $102.73 a barrel at 1117 GMT, while U.S. West Texas Intermediate contracts were up 18 cents, or 0.2 percent, at $98.72 per barrel.
Both contracts had settled down around 4 percent on Monday.
Demand concerns in China, the world’s largest crude oil importer, added downward pressure on Tuesday. China’s capital Beijing has expanded its COVID-19 mass testing to much of the city of nearly 22 million, as the population braced for an imminent lockdown similar to Shanghai’s stringent curbs.
…