CRUDEOIL UPDATE :: By Mcx Profit Hub

Oil Prices Rise as Reported Oil Tanker Attack Outweigh Sino-U.S. Exchange Tensions.

Regardless of strengthening exchange debates among China and the U.S., oil picked up on Tuesday morning in Asia in the midst of news that two Saudi Arabia oil tankers were purportedly assaulted.

U.S. Raw petroleum WTI Futures for June rose 0.31%. Universal Brent Oil Futures for July conveyance likewise went up 0.38% to 70.50.

Oil costs got some help today following reports that Saudi Arabia said two of its oil tankers were subverted off the shoreline of the United Arab Emirates trying to undermine the security of unrefined supplies.

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