Oil prices rise as Texas braces for tropical storm

U.S. crude oil prices edged up on Tuesday, supported by warnings that a tropical storm was about to hit the coast of the oil-producing state of Texas, while oversupply kept Brent steady. U.S. crude, also known as West Texas Intermediate (WTI), was up 51 cents at $60.03 a barrel at 0803 GMT, staying within a range of $57-$62 per barrel that has been in place since the beginning of May. The U.S. National Hurricane Center (NHC) issued a tropical storm warning on Tuesday for the Texas coast from Baffin Bay to High Island.

Oil prices rise as Texas braces for tropical storm source: http://finance.yahoo.com/news/oil-prices-rise-texas-braces-062230869.html