Oil prices closed higher on Tuesday, reaching their highest level this month, with increasing supply disruptions and traders betting that demand will grow if the Federal Reserve/US Central Bank/cuts borrowing costs this week.

Brent crude futures rose 95 cents, or 1.3 percent, to $73.70 a barrel.

In turn, US crude futures rose $1.10, or 1.6 percent, to $71.41 a barrel.

Source: National Iraqi News Agency