Oil prices tick up with European shares, trade near 11-month highs

Oil prices ticked up on Tuesday alongside rising European shares and amid reports of a blast in Saudi Arabia, trading near 11-month highs.

Brent crude was up 32 cents, or 0.6 percent, at $56.20 by 1433 GMT, while US crude rose 22 cents, or 0.4 percent, to $52.99. Both contracts rose nearly 1 percent on Monday and are set to post the third monthly rise in a row.

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