05:13 AM EDT, 09/17/2024 (MT Newswires) -- Crude oil prices rose as the market focused on supply concerns following Hurricane Francine and an expected decrease in U.S. crude oil inventories.

Brent crude climbed 0.2% to US$72.86 per barrel and West Texas Intermediate crude rose 0.1% to US$70.15/b at last look early Tuesday.

The price rise was due to the impact of Hurricane Francine on U.S. Gulf of Mexico production overcoming Chinese demand concerns ahead of the U.S. Federal Reserve's interest rate cut decision this week, Reuters said in a Tuesday report.

More than 12% of crude output and 16% of natural gas output in the region remained offline, the report said, citing the U.S. Bureau of Safety and Environmental Enforcement.

"Growing expectations of an aggressive rate cut boosted sentiment across the commodities complex," Reuters quoted ANZ analysts as saying in a note. A lower interest rate will reduce the cost of borrowing and can potentially lift oil demand by supporting economic growth.