Oil Prices Hover near Two-Week Low; Weak China Data Adds to Demand Concerns

OIL PRICE - SINGAPORE. Oil prices ticked up but hovered near a two-week low on Tuesday after weak economic data from China and warming weather forecasts elsewhere soured the demand outlook.

Brent crude oil futures rose by 60 cents, or 0.78%, to $77.68 per barrel by 0730 GMT. U.S. West Texas Intermediate crude futures were up 50 cents, or 0.68%, to $73.67. Brent settled on Monday at its lowest since Jan. 9, while WTI hit its lowest since Jan. 2.