US-Iran war, July 7 -- Oil prices inched higher on Tuesday, although gains remained capped as market participants shifted their focus from easing geopolitical tensions in the Middle East to expectations of higher supply and the outlook for global demand.

Brent crude futures rose 28 cents, or 0.39%, to $72.29 a barrel, while US West Texas Intermediate (WTI) crude climbed 29 cents, or 0.26%, to $68.84 a barrel. Both benchmarks had settled near their pre-Iran conflict levels in the previous session.

US President Donald Trump on Monday said Washington would either strike a deal with Iran or "finish the job," reiterating the possibility of military action even as Tehran maintained a defiant stance following the funeral of former Supreme Lead...