Crude oil prices rise on hopes of stronger demand; Brent above $72 per barrel

Brent crude rose 0.39 percent to $72.29 a barrel and WTI climbed 0.26 percent to $68.84 on Tuesday, with gains capped by expectations of higher supply. OPEC+ agreed on Sunday to raise production targets by an additional 188,000 bpd from August, following similar increases for June and July. Separately, Saudi Arabia cut its August official selling price for Arab Light crude to Asian buyers by $1.10, the steepest monthly reduction in over two decades, signalling softer demand expectations.