Sentiment was divided, with oil prices edging higher but gains limited

Oil prices edged higher on Tuesday, but the current sentiment is divided, with concerns about slowing economic growth on the one hand and escalating tensions in the Middle East on the other. The recent attacks in the Red Sea have heightened fears of a broader regional conflict in the Middle East, but so far oil production has not been directly affected, limiting further increases in oil prices, analysts said. “Crude oil prices are in a range Fluctuation, torn between new bullish geopolitical risks and a deteriorating global growth and demand outlook,” analysts at Peak Trading Research said in a note. ”