Ammon News - Oil prices were little changed on Tuesday after a hurricane that hit a key U.S. oil-producing hub in Texas caused less damage than markets had expected, easing concerns over supply disruption.

Brent futures rose 4 cents to $85.79 a barrel by 0622 GMT, while U.S. West Texas Intermediate (WTI) crude climbed 2 cents to $82.35.

Although oil refining activity slowed and some production sites were evacuated, major refineries along the U.S. Gulf Coast appeared to see minimal impact from Hurricane Beryl, which weakened into a tropical storm after hitting the Texas coast.

Oil prices settled down 1% on Monday amid hopes a possible ceasefire deal in Gaza could reduce worries about global crude supply disruption.

Reuters