Oil prices rise by more than a dollar

Baghdad , Oil prices rose more than a dollar on Tuesday, compensating for the previous day's losses, amid concerns about a possible recession in the United States that could hurt demand in the world's largest oil consumer.Brent crude futures rose by $1.25, or 1.6 %, to $77.55 a barrel, while US West Texas Intermediate crude futures rose by $1.35, or 1.9 %, to $74.29.The prices of the two benchmark crudes fell by about 1 % yesterday, against the backdrop of a decline in global stock markets.Source: National Iraqi News Agency