India, June 17 -- Oil prices traded higher on Tuesday amid fears of an escalation in Middle East tensions and potential crude oil supply disruption.
Brent crude futures rallied 1.4 percent to $74.24 a barrel in early European trade, reversing Monday's brief decline after reports emerged that Iran is seeking an end to hostilities with Israel.
U.S. President Donald Trump has warned about the Israeli-Iran conflict on social media, increasing the prospect of deepening unrest in the region and disruption to oil supply.
As Israel and Iran attacked each for a fifth straight day, Trump urged residents of Iran's capital, Tehran, to evacuate in a social media post, warning once again that Iran must not be allowed to develop nuclear weapons.
Trump...