Oil prices are higher than tensions between the United States and Iran

Oil prices climbed on Tuesday, slightly supported by underlying tensions between the United States and Iran that could further disrupt world market supply.

Oil market observers turn to the weekly Institute data released later Tuesday, as well as official data from the Energy Information Administration on Wednesday.

In advance of these data, September West Texas Intermediate gross traded in the United States

CLU8, + 0.49%

was up 38 cents, or 0.5%, to $ 68.27 a barrel. The contract is down 5.8% so far this month.

September Brent Brent

LCOU8, -0.01%

was up 15 cents, or 0.2%, at $ 73.20 per barrel. The global benchmark has evolved into chopped trading up here this week, at a time pushing above $ 74 on Monday, after recording its third consecutive weekly fall until Friday.

Read: Oil prices could exceed $ 120 before the end of the year

In addition to the day before the offer, a firmer dollar

DXY, -0.15%

continues to act "like a drag on commodities, gold going back down and oil struggling for traction," said Richard Perry, an badyst at Hantec Markets.

swing between gains and losses before closing on Monday after threats between President Donald Trump and his Iranian counterpart, Hbadan Rouhani, as the oil market tried to gauge the amount of Iranian crude oil in jeopardy.

of a 2015 international agreement to limit Iran's nuclear program, laying the groundwork for the reimposition of economic sanctions that should hinder the Iranian oil industry. Analysts have estimated that up to 1 million barrels per day of Iran more than 2.5 million barrels a day in oil exports could be in danger. Trump promised to impose the strictest possible sanctions.

After Trump withdrew from the nuclear deal in May, Brent temporarily crossed the symbolic threshold of $ 80 a barrel for the first time in more than 3 and a half years. wants to focus on current production in Iran "that will be affected by the new sanctions, said Ole Hansen, director of raw materials strategy at Saxo Bank.On the one hand, oil prices have been tempered by the Increase in the supply of the Organization of the Petroleum Exporting Countries – led by Saudi Arabia – and the production of allies like Russia as a result of a decision in late June to start increasing production after more than a year of production delay.

Elsewhere on Nymex, August gasoline

RBQ8, + 0.15%

stuck on 0.1% to $ 2.0945 per gallon, while August heating oil

HOQ8, + 0.36%

changed hands at $ 2.1285 per gallon, up nearly 0.5%. August natural gas

NGQ18, + 0.11%

increased 0.1% to $ 2.725 per million British thermal units.