Oil hovers at $70, Middle East cyclone fears ease

Oil prices steadied on Tuesday with concerns over gasoline supply in the United States keeping crude above the $70 mark even as fears eased that a cyclone in the Middle East would disrupt production. London Brent crude rose 11 cents to $70.51 a barrel by 0659 GMT, after climbing $1.33 on Monday on concerns the storm could disrupt shipping and output in the energy-rich region. Full Story

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