Oil futures settled near a two-week high on Tuesday, with analysts attributing the bounce to technical price triggers, expectations for a weekly decline in U.S. crude supplies and a U.S. plan to help Europe defend against security threats, which highlighted U.S. tensions with Russia.August crude CLQ5, +0.21% tacked on 63 cents, or 1 %, to settle at $61.01 a barrel on the New York Mercantile Exchange after posting losses earlier in the session to tap an intraday low of $59.55. The settlement was the highest settlement for a most-active contract since June 10.
August Brent crude on London’s ICE Futures exchange LCOQ5, +0.16% added $1.11, or 1.8%, to $64.45 a barrel — the highest settlement since about June 12.
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