Oil prices rise taking cue from stock-markets rally

Oil prices rose Tuesday, finding support as stock markets rallied and as investors paid attention to potential for a the U.S. cut.

West Texas Intermediate crude for September delivery CL.1, 1.24% CL00, 1.26% was up 74 cents, or 1.8%, at $42.68 a barrel on the New York Mercantile Exchange, while the global benchmark, October Brent crude BRNV20, 0.80%, was 58 cents higher, up 1.3%, at $45.57 a barrel on ICE Futures Europe.

The 200-day moving average for the Brent contract stood at $47.30 a barrel on Tuesday, according to FactSet.