Oil prices rise 1 per cent after steep tariff-induced plunge

Oil prices were up around 1 per cent on Tuesday, rebounding from a near four-year low in the previous session on concerns that US tariffs might depress demand and lead to a global recession, though analysts warned downside risks remain.

Brent futures were up 66 cents, or 1 per cent, at $64.87 per barrel, while US West Texas Intermediate crude futures rose 67 cents, or 1.1 per cent, to $61.37,