Crude oil futures rose Tuesday, ending two days of decline that reflected expectations that a recent spike in gasoline prices could undermine demand in the U.S., the world’s biggest energy consumer.
After an early decline, light sweet crude for October delivery on the New York Mercantile Exchange rose 45 cents to $63.79 a barrel by afternoon in Europe. On Monday, the contract lost 74 cents. Gasoline rose more than a penny to $1.8840 a gallon, while heating oil rose nearly 2 cents to $1.8379 a gallon. October Brent crude oil futures rose by 41 cents to $62.21 a barrel on London’s International Petroleum Exchange .
