Oil Climbs Sharply as U.S. Exports Seen Rising

By Anonymous

Prices rose Tuesday on forecasts that U.S. crude oil inventories could remain low into the fall season

Oil prices rose sharply Tuesday on forecasts that U.S. crude oil inventories could remain relatively low into the fall season if exports surge and shale production remains steady.

Light, sweet crude for October delivery ended 2.5% higher at $69.25 a barrel on the New York Mercantile Exchange. Brent crude, the global benchmark, was 2.2% higher at $79.06 a barrel.

The...