Oil Prices Rise on China Energy Demand Concerns

Oil Prices Rise on China Energy Demand Concerns
Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Okla., on April 21, 2020. Drone Base/Reuters
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LONDON—Oil prices rose on Tuesday as a supply crunch in natural gas, electricity, and coal continued across the globe while falling temperatures in China revived concerns over whether the world’s biggest energy consumer can meet domestic demand for heating.

The Brent crude benchmark rose 35 cents, or 0.4 percent, to $84.68 a barrel by 0827 GMT after falling 0.6 percent on Monday. The contract is still up nearly 7 percent this month.